A loan of $3700 charging simple interest for 1 year and 3 months requires a repayment of
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A loan of $3700 charging simple interest for 1 year and 3 months requires a repayment of $3954.38. If 1% was deducted from the interest rate, what would have been the repayment amount?
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Related Book For 
Mathematics Of Business And Finance
ISBN: 9781927737545
4th Edition
Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans
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