Mr. Smith borrowed $24,000 to purchase stock for his baseball card shop. He repaid the simple interest

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Mr. Smith borrowed $24,000 to purchase stock for his baseball card shop. He repaid the simple interest loan after three years. He paid interest of $6,320.

What was the interest rate?

Related Book For answer-question

Financial Accounting

ISBN: 978-1259103285

5th Canadian edition

Authors: Robert Libby, Patricia Libby, Daniel Short, George Kanaan, M

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Posted Date: Jun 19, 2023 02:11 AM

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Mr. Smith borrowed $24,000 to purchase stock for his baseball card shop. He repaid the simple interest

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Simple interst I 6320 t 2 3 year... View the full answer

Financial Accounting

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