Suppose you lent $5000 to friend 1 for 18 months at an annual simple interest rate of
Question:
(a) How much does friend 1 owe when the loan is due?
(b) If your agreement with friend 2 means she earns simple interest at an annual rate of 12%, how much did friend 2 pay you for the note?
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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