Angelo took a loan of $2500 from a bank at 4.6% p.a. for 18 months and gave

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Angelo took a loan of $2500 from a bank at 4.6% p.a. for 18 months and gave it to his friend Alisa as a loan at a rate of 6.0% p.a. At the end of 18 months, how much interest should Alisa have paid Angelo? Of this amount, how much interest should Angelo have paid the bank?

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Mathematics Of Business And Finance

ISBN: 9781927737545

4th Edition

Authors: Larry Daisley, Thambyrajah Kugathasan, Diane Huysmans

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