In all problem involving days, a 360-day year is assumed. When annual rates are requested as an

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In all problem involving days, a 360-day year is assumed. When annual rates are requested as an answer, express the rate as a percentage, correct to three decimal places, unless directed otherwise. Round dollar amounts to the nearest cent.

A loan of $7,260 was repaid at the end of 8 months. What size repayment check (principal and interest) was written, if an 8% annual rate of interest was charged?

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Finite Mathematics For Business Economics Life Sciences And Social Sciences

ISBN: 9780134862620

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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