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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 54
Use the ordinary interest method,360 days, to solve the following word problems. Round to the nearest cent when necessary.
Boz Foster signed a $10,000 simple discount promissory note at a bank discount rate of 6%. If the term of the notes was 125 years, what was the effective interest rate of the note Round your answer to the nearest hundredth of a percent.
Boz Foster signed a $10,000 simple discount promissory note at a bank discount rate of 6%. If the term of the notes was 125 years, what was the effective interest rate of the note Round your answer to the nearest hundredth of a percent.
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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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