Assume that you borrow $5000 and pay back the $5000 plus $250 in interest at the end
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Simple interest in the first case is 5 percent 250 5000 x 100 In the second cas...View the full answer
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Economics
ISBN: 978-0073375694
18th edition
Authors: Campbell R. McConnell, Stanley L. Brue, Sean M. Flynn
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