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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 16
Central Auto Parts borrowed $350,000 at 9% interest on July 19 for 120 days.
a. If the bank uses the ordinary interest method, what is the amount of interest on the loan?
b. What is the maturity date?
a. If the bank uses the ordinary interest method, what is the amount of interest on the loan?
b. What is the maturity date?
Explanation
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a. Given, Central Auto parts borrowed 35...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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