Devon Gillies is a college student who is working as a laborer for a landscape company during the summer. Before the first paycheck, the owner loaned Devon $1,000 for 30 days at 5% ordinary simple interest. Compute the total amount that Devon will need to repay the owner when he gets paid after 30 days. (Use a 360-day year.)

Question

Devon Gillies is a college student who is working as a laborer for a landscape company during the summer. Before the first paycheck, the owner loaned Devon $1,000 for 30 days at 5% ordinary simple interest. Compute the total amount that Devon will need to repay the owner when he gets paid after 30 days. (Use a 360-day year.)​

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The Answer of Devon Gillies is a college student who is working as a laborer for a landscape company during the summer. Before the first paycheck, the owner loaned Devon $1,000 for 30 days at 5% ordinary simple interest. Compute the total amount that Devon will need to repay the owner when he gets paid after 30 days. (Use a 360-day year.)​

Devon Gillies Is a College Student Who Is Working as a Laborer