Dave takes out a loan for $5000 to be repaid at the end of 9 months.The simple interest rate on the loan is r = 9% for the first two month,r = 12 % for the next 6 months,and r = 6% thereafter.How much does Dave have to pay back at the end of 9 months?

Question

Quizplus · Accepted Answer

The Answer of Dave takes out a loan for $5000 to be repaid at the end of 9 months.The simple interest rate on the loan is r = 9% for the first two month,r = 12 % for the next 6 months,and r = 6% thereafter.How much does Dave have to pay back at the end of 9 months?

Dave Takes Out a Loan for $5000 to Be Repaid