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    Business Mathematics Study Set 1
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    Exam 9: Compound Interest: Further Topics and Applications
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    If an Invoice Indicates That Interest at the Rate of 1.2
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If an Invoice Indicates That Interest at the Rate of 1.2

Question 249

Question 249

Short Answer

If an invoice indicates that interest at the rate of 1.2% per month will be charged on overdue amounts, what effective rate of interest will be charged?

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