Kwame borrowed $2500 for 5 months from a bank using a 3% discount note. (a) How much

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Kwame borrowed $2500 for 5 months from a bank using a 3% discount note.

(a) How much interest did Kwame pay the bank for the use of its money?

(b) How much did he receive from the bank?

If necessary round all dollar figures to the nearest cent and round percents to the nearest hundredth of a percent.

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A Survey of Mathematics with Applications

ISBN: 978-0134112107

10th edition

Authors: Allen R. Angel, Christine D. Abbott, Dennis Runde

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Kwame borrowed $2500 for 5 months from a bank using a 3% discount note. (a) How much

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A Survey of Mathematics with Applications

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