Solved

Jackson Was Charged 11% Interest and Paid $189 Interest on a Simple

Question 106

Short Answer

Jackson was charged 11% interest and paid $189 interest on a simple interest loan for 3 months from his credit union. How much did he borrow? Use ordinary interest. (Round to the nearest cent)

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents