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Kura needs to pay interest on her $16000 loan at 5.3% per annum for 182 days out of 365 days. How m...
4 months ago
Q:
Kura needs to pay interest on her $16000 loan at 5.3% per annum for 182 days out of 365 days. How much will she owe after the year?
Accepted Solution
A:
Answer:$422Step-by-step explanation: Interest is 5.3% per annum that is (16000*5.3%)=$848 for 365 days or per annumFor 182 days= (182/365)*848=$422