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Find amount of simple interest that bill pays on loan

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Reference no: EM133002706

On March 20, 2020, Bill borrows $625 for 45 days at 14.25% simple interest. Remember that for all simple interest problems use Banker's rule unless told otherwise.

Problem (a) State the maturity date. (Use the form 00-00-0000. For example: March 20, 2020 would be expressed as 03-20-2020.)

Problem (b) Determine the amount of simple interest that Bill pays on the loan.

Reference no: EM133002706

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