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a radio commercial for a loan company states you only pay 2 7 cents a day for each $ 5 0 0 borrowed if you

a radio commercial for a loan company states you only pay

27

cents a day for each $

500

borrowed if you borrow $

2, 514

for

165

days what amount will you repay and what annual interest rate is the company actually charging?

(

assume a

360

day year

)

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