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    Contemporary Business Mathematics Study Set 1
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    Exam 8: Simple Interest Applications
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    You Borrowed $4600 at 9
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You Borrowed $4600 at 9

Question 9

Question 9

Essay

You borrowed $4600 at 9.1% per annum calculated on the unpaid monthly balance and agree to repay the principal together with interest in monthly payments of $1050 each. Construct a complete repayment schedule.

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