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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 110
Solve the following word problems. Round to the nearest cent when necessary.
On May 23, Samantha Best borrowed $4,000 from the Tri City Credit Union at 13% for 160 days. The credit union uses the exact interest method.
a. What was the amount of interest on the loan
b. What was the maturity value of the loan
c. What is the maturity date of the loan
On May 23, Samantha Best borrowed $4,000 from the Tri City Credit Union at 13% for 160 days. The credit union uses the exact interest method.
a. What was the amount of interest on the loan
b. What was the maturity value of the loan
c. What is the maturity date of the loan
Explanation
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a. Samantha Best borrowed $4,000 on May ...
Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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