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    Contemporary Business Mathematics Study Set 1
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    Exam 7: Simple Interest
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    The Simple Interest Rate Being Charged on a $10 000
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The Simple Interest Rate Being Charged on a $10 000

Question 54

Question 54

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The simple interest rate being charged on a $10 000 is 0.5% per month. What is the total amount paid, if the entire loan is paid in 9 months?

Correct Answer:

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P = $10,000
r = 0.5%...

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