Lars Was Charged 10

question 118

Short Answer

Lars was charged 10.5% interest and paid $475 interest on a simple interest loan for 30 days from his local bank. How much did he borrow? Use exact interest. (Round to the nearest cent)

---

Definitions:

Bantu

A large group of African languages and their speakers, originating from the Niger-Congo region and spreading across much of sub-Saharan Africa.

Social Structure

The organized pattern of social relationships and social institutions that together compose society, influencing behaviors and relationships.

Neolithic

The New Stone Age; a prehistoric period beginning about 10,000 years ago in which peoples possessed stone-based technologies and depended on domesticated crops and/or animals for subsistence.

Division of Labor

The allocation of different tasks and responsibilities to different individuals or groups, typically to increase efficiency in production or services.