Marcia Rodger borrowed $3,500 from Valley Bank at a rate of 9%. The date of the loan was October 10. Marcia hoped to repay the loan by February 10. Assume the loan is based on ordinary interest. What will the interest costs be? How much will Marcia repay on February 10? What would the playback be if exact interest was used?

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21 January, 14:23

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Logan Hall · Answer 1

The interest would be 315$ she would pay 4,760$ by feb. 10