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A woman borrowed $3000 from a bank for 3 months. A friend was cosigner of the woman's personal note. The bank collected 8 1 2%
A woman borrowed $3000 from a bank for 3 months. A friend was cosigner of the woman's personal note. The bank collected 8 1 2% simple interest on the date of maturity. a) How much did the woman pay for the use of the money? b) Determine the amount she repaid to the bank on the due date of the note. a) The woman paid $___for the use of the money.
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