On April 11, 2008, Janeen Camoct borrowed $21,000 with 6.55% interest. The loan is due March 31, 2009. Use ordinary interest to calculate the interest. What total amount will Janeen pay on March 31, 2009?
You're expected to know this formula: .\(\displaystyle \text{Interest} \;=\;\text{Principal} \times \text{Rate} \times \text{Time}\)
On April 11, 2008, Janeen Camoct borrowed $21,000 with 6.55% interest.
The loan is due March 31, 2009.
Use ordinary interest to calculate the interest.
What total amount will Janeen pay on March 31, 2009?
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