Part 1 of 3
To pay for car repairs, you take out a simple interest loan for $1520 at a rate of 8.5% for 150 days. Answer parts (a) - (c).
Homework
a. Find the interest you will pay if the lender uses the Banker's Rule (360 days in a year).
The interest you will pay if the lender uses the Banker's Rule will be $
(Do not round until the final answer. Then round to the nearest cents needed.)