A loan company advertises in the paper that you will pay only 8 a day for each

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A loan company advertises in the paper that you will pay only 8¢ a day for each $100 borrowed. What annual rate of interest are they charging? (Use a 360-day year.)

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

ISBN: 978-0134674148

14th Edition

Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Mar 22, 2022 12:40 AM

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A loan company advertises in the paper that you will pay only 8 a day for each

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P 100 I 008 t 7 I Pt 008 100 360 1 360 0288 or 288 PV 1000 i0025 n 4 T...View the full answer

College Mathematics For Business Economics, Life Sciences, And Social Sciences

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