Compute the Ordinary Interest (360-Day Year) and the Total Amount

question 3

Short Answer

Compute the ordinary interest (360-day year) and the total amount of the loan in the following problems. Round answers to the nearest cent.​
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Definitions:

Resource Market

A market where resources or inputs for production (like labor, capital, and raw materials) are bought and sold.

Labor

The human effort, both physical and intellectual, used in the production of goods and services.

Capital

Assets used for the production of goods and services, such as machinery, buildings, and equipment.

Association Is Causation

The incorrect assumption that a relationship between two variables implies that one causes the other; a logical fallacy often encountered in statistical analysis.