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Calculate the interest jim will have to pay

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Reference no: EM131881724

a. Jim borrowed $30000 to be repaid in 6 months at an annual interest rate of 8%. Using the formula for simple interest calculate the interest Jim will have to pay

b. Calculate the simple interest to the nearest cent for a loan of $15000 at 8% interest borrowed on May 4, 2017 to be repaid on 10-Aug-17

c. Mr Sharkley is selling his boat for $6870. Mr Kay has offered to buy the boat and pay for it in 18 months. He is willing to pay the going rate of interest of 4%. What payment will Mr. Kay make to Mr. Sharkley.

Reference no: EM131881724

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