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What total amount was required to pay off the loans

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Problem: Village Finance Co. advanced three loans to Kamiko-$3,800 on June 16, $3,400 on August 21,and $2,900 on October 25. Simple interest at 8.05% was charged on all three loans, and all were repaid on December 31 when some bonds that she owned matured. What total amount was required to pay off the loans? (Use 365 days a year. Do not round intermediate calculations and round your final answer to 2 decimal places.)

Reference no: EM132433824

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