Asked by Maria Taylor

Amy Koy met Pat Quin on September 8 at Queen Bank. After talking with Pat, Amy decided she would like to consider a $9,000 loan at 10 1/2 % to be repaid on February 17 of the next year on exact interest. Calculate the amount that Amy would pay at maturity under this assumption. Round all answers to the nearest cent.
Answered by Henry
P = Po + Po*r*t.

P = 9000 + 9000*(0.105/365)*270.
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