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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 41
Solve following application problems. Round rate to the nearest tenth of a percent, time to the nearest day, and money to the nearest cent.
EARTHQUAKE DAMAGE A bridge in Japan was damaged by an earthquake. The firm repairing the bridge needs proceeds of 165 million Japanese yen (¥165,000,000) for 30 days to pay wages and buy supplies. A bank lends the funds at an 8, discount rate. Find (a) the face value _____________ and (b) the effective rate. _____________
EARTHQUAKE DAMAGE A bridge in Japan was damaged by an earthquake. The firm repairing the bridge needs proceeds of 165 million Japanese yen (¥165,000,000) for 30 days to pay wages and buy supplies. A bank lends the funds at an 8, discount rate. Find (a) the face value _____________ and (b) the effective rate. _____________
Explanation
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The following information is given, 
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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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