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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 64
Solve following application problems. Round rate to the nearest tenth of a percent, time to the nearest day, and money to the nearest cent.
RACE HORSES Robert Johnson owns a farm and breeds race horses. To purchase three thoroughbreds, he signs a 180-day note with a maturity value of $265,000 and proceeds of $253,737.50. Find (a) the discount _____________ and (b) the true (or effective) rate. _____________
RACE HORSES Robert Johnson owns a farm and breeds race horses. To purchase three thoroughbreds, he signs a 180-day note with a maturity value of $265,000 and proceeds of $253,737.50. Find (a) the discount _____________ and (b) the true (or 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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