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Find the interest in dollars and the proceeds for the following problem. Remember to use a 360 day year. (Enter a $ along with your answer in $0.00 format.) Chris Shopper received a $1,500.00 discount loan to purchase a washer and dryer. The loan was offered at 15% for 120 days. Find the interest in dollars and the proceeds for the following problem.

Respuesta :

Answer:

Therefore the interest = $ 75.

Step-by-step explanation:

Given , Chris shopper received a loan $1,500 discount to purchase a washer and dryer. The loan was offered at 15%for 120 day.

P = $ 1500

r = 15%

t= [tex]\frac{120}{360} = \frac{1}{3}[/tex] year

[tex]\textrm{intrest} =\frac{Pr t}{100}[/tex]

          [tex]=\$\frac{1500\times 15 \times \frac{1}{3} }{100}[/tex]

         [tex]=\$ 75[/tex]

Therefore the interest = $ 75.

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