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7. ROAD PAVING Montoya Construction needs to borrow $375,000 to build a road and install utilities in a small subdivision. It borrows the funds at

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7. ROAD PAVING Montoya Construction needs to borrow $375,000 to build a road and install utilities in a small subdivision. It borrows the funds at 8% for 90 days. When interest rates were high in 1980, the interest rate would have been 22%. Find the dif- ference in interest charges between the two rates

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