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Business Math: Loan for a Laptop

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To buy a laptop, Susan receives a $2200 loan at a 5.2% annual interest rate on January 10. The loan is due May 15. The year is not a leap year. Round the answers to the nearest cent (nearest hundredth).

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Solution Summary

The solution solves a math problem for a loan for a laptop.

Solution provided by:
Robert Reinhart, MBA
Education
  • MBA, Merage School of Business, Univ of Cal, Irvine
  • BA, Univ of Cal, Irvine
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