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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 165
Solve the following word problems. Round answers to the nearest cent when necessary.
Kendall Motors, a Buick dealership, borrowed $225,000 on April 16 to purchase a shipment of new cars. The interest rate was 9.3% using the ordinary interest method. The amount of interest was $9.600.
a. For how many days was the loan
b. What was the maturity date of the loan
Kendall Motors, a Buick dealership, borrowed $225,000 on April 16 to purchase a shipment of new cars. The interest rate was 9.3% using the ordinary interest method. The amount of interest was $9.600.
a. For how many days was the loan
b. What was the maturity date of the loan
Explanation
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Verified
a. Firstly, find the number of days for ...
Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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