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Legitimate Financial Services Made a Loan at 9

Question 29

Multiple Choice

Legitimate Financial Services made a loan at 9.75% interest for 254 days. If the amount of interest was $270.50, use the exact interest method to find the amount of principal borrowed. (Round to the nearest whole dollar amount)


A) $3,649
B) $3,987
C) $4,138
D) $3,789

Correct Answer:

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