Quiz Flow
Business Management
Suppose a producer discovers insects in his cotton and decides to use an insecticide to save the crop. A bank will loan him $2000.00 at 9.5% interest until he sells his crop 12 months later. At that time he must repay the loan. How much will he pay in interest if simple interest is computed?
Suppose a producer discovers insects in his cotton and decides to use an insecticide to save the crop. A bank will loan him $2000.00 at 9.5% interest until he sells his crop 12 months later. At that time he must repay the loan. How much will he pay in interest if simple interest is computed?
Suppose a producer discovers insects in his cotton and decides to use an insecticide to save the crop. A bank will loan him $2000.00 at 9.5% interest until he sells his crop 12 months later. At that time he must repay the loan. How much will he pay in interest if simple interest is computed?
Answer: $190
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