Question 3 Use the add-on method for determining interest on a loan of $2350, with an annual
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Question 3
Use the add-on method for determining interest on a loan of $2350, with an annual rate of 8% and a term of 2 years. Then, determine the annual interest rate during the last month of the loan.
During the last month of the loan, the annual interest rate is __%.
(Type whole number.)
Related Book For
Business Math
ISBN: 978-0133011203
10th edition
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
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