Math  /  Word Problems

QuestionEric takes a loan of \$13,800 at 15\% simple interest for 84 days. Calculate:
(a) Interest owed after 84 days. (b) Total amount owed after 84 days.

Studdy Solution
Calculate the total amount Eric has to pay back.
Totalamount=$13,800+$428.22=$14,228.22Total\, amount = \$13,800 + \$428.22 = \$14,228.22This is the answer to part (b) of the problem. If Eric doesn't make any payments, he will owe $14,228.22 after84 days.

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