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Alice took out a loan of $19,500 at 13 1/2 % on March 4, 2016, which will be do on January 14th, 2017. Using ordinary
Alice took out a loan of $19,500 at 13 1/2 % on March 4, 2016, which will be do on January 14th, 2017. Using ordinary interest, what will be the interest cost and what amount will alice pay back on January 14, 2017?
Interest cost =
Alice pay back =
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