justynejoseph9722 justynejoseph9722
  • 24-02-2020
  • Business
contestada

The Wet Dog Surf Company borrows $27,000 at 5.00% for 10 months. Calculate the total interest amount (rounded to the nearest penny) that Wet Dog will pay.

Respuesta :

DeniceSandidge DeniceSandidge
  • 25-02-2020

Answer:

total interest = $1125

Explanation:

given data

principal = $27,000

rate = 5 %

time = 10 months

to find out

total interest

solution

we get here total interest that is express as

total interest = principal × rate × time   ....................1

put here value and we get

total interest = $27,000 × 5 % × [tex]\frac{10}{12}[/tex]    

total interest = $1125

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