Question: Arnold purchased a note from Sylvester for $5500. The note will mature in 240 days, and bears 0.015 of simple interest rate. But 60 days

Arnold purchased a note from Sylvester for $5500. The note will mature in 240 days, and bears 0.015 of simple interest rate. But 60 days after Arnold purchased the note, his friend Bruce convinced him to sell him the note for $5472.91. Bruce keeps the note until maturity. (a) What is the simple interest rate for Arnold in these transactions? (b) What is the simple interest rate for Sylvester in these transactions? (c) What is the simple interest rate for Bruce in these transactions?

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