Julie borrowed $3650 from her bank for 18 months using a 7.6% discount note. (a) How much
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Julie borrowed $3650 from her bank for 18 months using a 7.6% discount note.
(a) How much interest did Julie pay the bank for the use of its money?
(b) How much did she receive from the bank?
(c) What was the actual rate of interest she paid?
If necessary round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.
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Related Book For
A Survey of Mathematics with Applications
ISBN: 978-0134112107
10th edition
Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde
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