A biulding contractor gives a $15,000 prommissory note to a plumber who has loaned him $15,000. The loan is due in 8 months with a simple interest rate at 7%. Three months after the loan is signed, the plumber sells it to the bank. If the bank gets a 9% return on its investments, how much will the plumber recieve?

Question

anonymous · Answer

do i find the simple interest on 15,000 at 7% then find ofor 5 ut how much they bank wants for five months at 9% and subtract?