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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 164
On April 12, Michelle Lizaro borrowed $5,000 from her credit union at 9% for 80 days. The credit union uses the ordinary interest method.
a. What is the amount of interest on the loan?
b. What is the maturity value of the loan?
c. What is the maturity date of the loan?
a. What is the amount of interest on the loan?
b. What is the maturity value of the loan?
c. What is the maturity date of the loan?
Explanation
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a. Given, Michelle Lizzaro borrowed $5,0...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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