Question
Mario used their line of credit to pay some vendor invoices that offered them a 1% cash discount. The annual interest rate on their line
Mario used their line of credit to pay some vendor invoices that offered them a 1% cash discount. The annual interest rate on their line of credit is 9%. If they used $9,000 of their line of credit to pay the vendor invoices, how much interest would they pay on their line of credit, if they repaid the balance in two months?
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
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