Answer to Question #47598 in Finance for plojgg
$8,563 borrowed at 15.5% simple interest
What is the total amount to be repaid 3 years, 125 days later? (Round your answer to the nearest cent.)
The total amount to be repaid 3 years, 125 days later will be P = 8,563*(1 + 0.155*(3+125/365)) = $12,999.34
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