The owners of a marina bought 8 canoes to be used as rentals at a cost of $800 per canoe. They borrowed 70% of the total cost for 7 months at 12 1/2% interest. Find the amount due using simple interest.
The amount due is $:
(Round to the nearest cent as needed.)
Like I mention on the other questions I’ve asked I don’t want the answer I just need some help getting there and how to get there I will post the answer for others after if it is correct.
2 answers
0.70*800 (1 + 7/12 * 0.125) = _____
Answer: 4806.67
0 answers