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Alexander Carver Loaned $3,000 to Bonnie Humphrey for a Vacation

Question 61

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Alexander Carver loaned $3,000 to Bonnie Humphrey for a vacation trip. Compute the loan period if Alexander charged 10% exact simple interest (365-day year) and Bonnie repaid a total of $3,082.19. (To the nearest day.)

Correct Answer:

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T = I ÷ (PR) = $82.1...

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