Paul Harris Borrowed $3,825 for 95 Days at 8

question 44

Short Answer

Paul Harris borrowed $3,825 for 95 days at 8.5% exact simple interest (365-day year). Compute the total amount that Paul must repay at the end of the loan period.

---

Definitions:

Expression

In mathematics, an expression is a combination of symbols that represent a value or the relationship between values.

X

Often used to denote an independent variable or an unknown value in equations and functions.

Polynomial

An algebraic expression consisting of terms in the form of ax^n where a is the coefficient, x is the variable, and n is a non-negative integer.

Monomial

An algebraic expression consisting of a single term, which can be a constant, a variable, or multiples of variables and constants.