To pay for a shipment of t-shirts, the owner of Hot T-shirts Shop borrowed $8000 at 9 and ¾% interest and for a period of 60 days. What is the simple interest on this loan? What is the total amount that needs to be paid to the loan company?
To pay for a shipment of t-shirts, the owner of Hot T-shirts Shop borrowed $8000 at 9 and ¾% interest and for a period of 60 days. What is the simple interest on this loan? What is the total amount that needs to be paid to the loan company?