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A radio commercial for a loan company states: You only pay 29 cents a day for each $500 borrowed. If yon borrow $1.500 for 120
A radio commercial for a loan company states: "You only pay 29 cents a day for each $500 borrowed". If yon borrow $1.500 for 120 days , what amount will you repay, and what annual interest rate is the company charging? Assume a 360 day year. (6 points)
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ISE International Financial Management
Authors: Cheol Eun, Bruce Resnick, Tuugi Chuluun
9th International Edition
1260575314, 9781260575316
