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...

Ms. Sue, How did you get .55?

Thanks Ms. Sue, this is how I had did it at first which is the same answer but a different step, but you should me there is more than one way. $60,00 x .45 = 27,000 60,000 - 27,000 = $33,000