Raul Fletes needed money to buy lawn equipment. He borrowed $500 for seven months and paid $53.96

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Raul Fletes needed money to buy lawn equipment. He borrowed $500 for seven months and paid $53.96 in interest. What was the rate of interest?
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Business Math

ISBN: 978-0133011203

10th edition

Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble

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