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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 171
Solve the following application problems. Round rates to the nearest tenth of a percent, time to the nearest day, and money to the nearest cent.
Bill Travis signed a note for $18,500 with his uncle to start an auto repair shop on Commerce Street. The note is due in 300 days and has a discount rate of 14%. Travis hopes that a bank will refinance the note for him at a lower rate after he has been in business for 300 days. Find the proceeds.
Bill Travis signed a note for $18,500 with his uncle to start an auto repair shop on Commerce Street. The note is due in 300 days and has a discount rate of 14%. Travis hopes that a bank will refinance the note for him at a lower rate after he has been in business for 300 days. Find the proceeds.
Explanation
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The following table is given, 
Recall th...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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