Walter Fong Borrowed $1,175 at 8% Ordinary Simple Interest for 180

question 46

Short Answer

Walter Fong borrowed $1,175 at 8% ordinary simple interest for 180 days. Compute the total amount that Walter will have to pay on the due date. (Use a 360-day year.)​

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Definitions:

Depleted

Reduced in quantity, intensity, or strength; exhausted of resources or contents.

Gratitude

The quality of being thankful; readiness to show appreciation for and to return kindness.

Thank-you Letter

A written expression of gratitude, typically sent to someone who has provided a service, gift, or opportunity.

Interviewer

A person who asks questions in a formal or informal setting to gather information or assess the qualifications of an interviewee.