Barbara Was Charged 9

question 30

Short Answer

Barbara was charged 9.35% interest and paid $375.50 interest on a simple interest loan for 105 days from her local bank. How much did she borrow? Use ordinary interest. (Round to the nearest cent)

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Definitions:

Escheat To The Crown

A legal process where unclaimed or ownerless land and property revert back to the state or monarch.

Electronic Commerce

The act of purchasing and selling products and services, or the transfer of money and information, primarily through the internet.

Telecommunications Technologies

Tools and devices used to transmit information over distances, such as telephones, the internet, and satellite systems.

Digitized Offerings

Products or services that are converted into digital form to be accessed or purchased online.