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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 73
Solve the following word problems. Round answers to the nearest cent when necessary.
The Actor's Playhouse theater borrowed $100,000 at 8% ordinary interest for 90 days to purchase new stage lighting equipment. On day 40 of the loan, the theater made a partial payment of $35,000. What is the new maturity value of the loan?
The Actor's Playhouse theater borrowed $100,000 at 8% ordinary interest for 90 days to purchase new stage lighting equipment. On day 40 of the loan, the theater made a partial payment of $35,000. What is the new maturity value of the loan?
Explanation
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Step 1 : Compute the interest from the d...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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