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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 301
Use M = P (1 + RT ) where M = maturity value, P = principal or loan amount, R = annual interest rate written as a decimal, and T = time in years.
ANTIQUES Jan Reus borrowed $12,500 from her uncle to help start an antique shop. She repaid $14,750 exactly 2 years later. Find the interest rate. [ M = P 11 + RT )] _____
ANTIQUES Jan Reus borrowed $12,500 from her uncle to help start an antique shop. She repaid $14,750 exactly 2 years later. Find the interest rate. [ M = P 11 + RT )] _____
Explanation
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Given, $12,500 was borrowed by Ms. Reus ...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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