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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 86
In the following application problems, find principal to the nearest cent, rate to the nearest tenth of a percent, or time to the nearest day.
HOME CONSTRUCTION Gilbert Construction Company needs to borrow $220,000 for 1 year for materials needed to build three homes. They can borrow from either of two banks. Interest charges from Bank One would amount to $23,650, whereas interest charges from First National Bank would amount to $25,000. Find the interest rates associated with a loan from (a) Bank One _____________and (b) First National Bank. _____________
HOME CONSTRUCTION Gilbert Construction Company needs to borrow $220,000 for 1 year for materials needed to build three homes. They can borrow from either of two banks. Interest charges from Bank One would amount to $23,650, whereas interest charges from First National Bank would amount to $25,000. Find the interest rates associated with a loan from (a) Bank One _____________and (b) First National Bank. _____________
Explanation
Verified
Verified
Consider Bank One.
The following infor...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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