If Stupo borrows the amount shown below for the duration shown, and instead of paying off the
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Question:
If Stupo borrows the amount shown below for the duration shown, and instead of paying off the amount agreed upon when due decides to keep the money for a year, how much will he have to pay on the same terms?
Amount borrowed | $1,500 |
Amount to be returned | $2,000 |
Days between borrowing & returning | 15 |
Related Book For
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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