Damon convinced his aunt to lend him $2,000 to purchase a plasma digital TV. She has agreed

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Damon convinced his aunt to lend him $2,000 to purchase a plasma digital TV. She has agreed to charge only 6 percent simple interest, and he has agreed to repay the loan at the end of one year. How much interest will he pay for the year?

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Bank Management and Financial Services

ISBN: 978-0078034671

9th edition

Authors: Peter Rose, Sylvia Hudgins

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Question Posted: Mar 13, 2018 08:53 AM

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Damon convinced his aunt to lend him $2,000 to purchase a plasma digital TV. She has agreed

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Bank Management and Financial Services

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