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Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
Edition 13ISBN: 978-0321955050 Exercise 11
To help you review, the numbers in brackets show the section in which the topic was discussed. Find the simple interest for of the following. Round to the nearest cent.
Mike Fagan needs $25,000 to expand his flower shop. Find the face value of a simple discount note that will provide the $25,000 in proceeds if he plans to repay the note in 240 days and the bank charges a 9% discount rate. _____________
Mike Fagan needs $25,000 to expand his flower shop. Find the face value of a simple discount note that will provide the $25,000 in proceeds if he plans to repay the note in 240 days and the bank charges a 9% discount rate. _____________
Explanation
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The following table is given, 
Recall th...
Business Mathematics 13th Edition by Gary Clendenen,Stanley Salzman
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