If Colin needs to borrow $1,500 for car repairs. How much interest will he pay if the rate is 4.9% and he has 125 days to repay the loan?
Here's the equation so you can show your work: (Days Borrowed/Days In a Year) * (Money Borrowed* Interest Rate) =(125/365) * (1500*0.049)
Answered by David A. -
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