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Solve the Problem. -A Collection Agency Specializing in Collecting Past-Due Real Estate Loans

Question 37

Multiple Choice

Solve the problem.
-A collection agency specializing in collecting past-due real estate loans charges $27 as an application fee plus 20% of the amount collected. What is the total charge for collecting $7,300
Past-due real estate loans?


A) $1,487
B) $392
C) $37
D) $1,460

Correct Answer:

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