Question: (a) If the interest on a note is $1,500, the interest rate is 5%, and the time is 90 days, what is the principal? (assume

(a) If the interest on a note is $1,500, the interest rate is 5%, and the time is 90 days, what is the principal? (assume 360 days in a year) (b) If the principal of a note is $50,000, the interest is $1,000,and the time is 60 days, what is the interest rate? ( assume 360 days in a year)

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