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On April 5, 2015, Janeen Camoct took out an 9% loan for $26,000. The loan is due March 9, 2016. Janeen's terms are ordinary interest. Sabrina Bowers...
On April 5, 2015, Janeen Camoct took out an 9% loan for $26,000. The loan is due March 9, 2016. Janeen's terms are ordinary interest. Sabrina Bowers took out the same loan as Janeen. Sabrina's terms, however, are exact interest. (Use Days in a year table.)
a. What is Sabrina's difference in interest?(Do not round intermediate calculations.Round your answer to the nearest cent.)
Difference $_______
b. What will she pay on March 9, 2016? (Ignore leap year.)(Do not round intermediate calculations. Round your answer to the nearest cent.)
Amount $_______
