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A radio commercial for a loan company states You only pay 31e a day for each $500 borrowed If you borrow $1,966 for 194 days,

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A radio commercial for a loan company states "You only pay 31e a day for each $500 borrowed If you borrow $1,966 for 194 days, what amount will you repay, and what annual interest rate is the company actually charging? (Assume a 360-day year) a. Amount you repay (Rbund to two decimal places)

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