A retail business borrowed $11,250.00 for new equipment. The simple interest rate was 6.5% per year. The

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A retail business borrowed $11,250.00 for new equipment. The simple interest rate was 6.5% per year. The loan period was three years

a.) How much interest was paid per year?

b.) How much interest was paid in total?

Related Book For answer-question

Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

Posted Date: Jun 22, 2023 06:43 AM

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A retail business borrowed $11,250.00 for new equipment. The simple interest rate was 6.5% per year. The

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Amount Borrowed or Principal 11250 Rate of ... View the full answer

Income Tax Fundamentals 2013

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