Question

A print shop borrows $6700 from a credit union for 338 days the credit union charges simple interest at an annual rate of 10% for this loan assum each day is 1/365 of a year

Answer 1

The total he would have to pay back would be $7,320.44

Explanation:

(I'm assuming you want the total amount he needs to pay back)

6700 x 0.10 = 670 per year

670 ÷ 365 = 1.835616438356164

1.835616438356164 × 338 = 620.44

620.44 + 6700 = 7,320.44