Consider the total amount that must be repaid on the

Last updated: 10/8/2023

Consider the total amount that must be repaid on the following note described 8 523 borrowed at 15 5 simple interest for 3 years 125 days Give the future value of simple interest formula where A is the future value in dollars P is the present value in dollars r is the annual interest rate as a decimal and it is the time in yea A Determine the following values for the note For t first enter the total number of full years then enter the remaining days as a fraction of a 360 day year P r t 360 What is the total amount to be repaid Round your answer to the nearest cent