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A radio commercial for a loan company states. You only pay 29 cents a day for each $500 borrowed. If you borrow $2,520 for 188
A radio commercial for a loan company states. "You only pay 29 cents a day for each $500 borrowed." If you borrow $2,520 for 188 days, what amount will you repay, and what annual interest rate is the company actually charging? (assume a 360 day year)
amount you repay=$____ (round to two decimal places.)
annual interest rate=___% (round to four decimal places.)
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