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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 172
Solve the following application problems. Round rates to the nearest tenth of a percent, time to the nearest day, and money to the nearest cent.
First Bank signed an 80-day, $82,000 note at a 12% discount rate. Find the effective rate of interest.
First Bank signed an 80-day, $82,000 note at a 12% discount rate. Find the effective rate of interest.
Explanation
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The following table is given, 
Recall th...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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