Reggie needs a quick x-dollar loan until his next payday in 2 weeks to take advantage of
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Reggie needs a quick x-dollar loan until his next payday in 2 weeks to take advantage of a sale on ski equipment. The bank would take too long on the paperwork, so he goes to a pawnshop. The pawnshop will only lend him 25% of the value of his collateral. Express algebraically the amount of collateral Reggie must use for this loan.
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y25x Let yy be the amount of the collateral The ...View the full answer
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Related Book For
Financial Algebra Advanced Algebra With Financial Applications
ISBN: 9781337271790
2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
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