Suppose Katy borrowed some amount of money for 100 weeks and Anastasia borrowed the same amount. Katy's

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Suppose Katy borrowed some amount of money for 100 weeks and Anastasia borrowed the same amount.

Katy's loan used the simple interest model with an annual rate of 9.3% while Anastasia's loan used the simple discount model with an annual discount of 9.6%.

At the end of their respective terms, Katy's maturity value was $5,185 while Anastasia's was $6,046.

How many weeks was Anastasia's loan for?

Round your answer to the nearest week.

Related Book For answer-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

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Posted Date: Apr 02, 2024 06:50 AM

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Suppose Katy borrowed some amount of money for 100 weeks and Anastasia borrowed the same amount. Katy's

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To find out the duration of Anastasias loan we can set up equations based on the given information L... View the full answer

Mathematical Applications for the Management Life and Social Sciences

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