Question

tony towing borrows of $12,250 at 9.5% interest for 320 days if bank use exact interest method how much interest will the bank collect? Round to nearest cent
Ms. Sue
I = PRT
I = 12,250 * 0.095 * 0.8767
I = ?













What is the selling price of a dining room set at Macy’s? Assume actual cost is $910 and 30% markup on selling price.


$1,020.00
12,250 * 0.095 * 320/365 = $1,020.27

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