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Assume the amount borrowed was $15.600. What was the interest rate if the amount of interest owed was $572? On May 15, Windsor Clothlers borrowed
Assume the amount borrowed was $15.600. What was the interest rate if the amount of interest owed was $572?
On May 15, Windsor Clothlers borrowed some money on a 4-month note to provide cash during the slow season of the year. The interest rate on the note was B\%, At the time the note was due, the amount of interest owed was 5420. (a) Determine the amount borrowed by Windsor. (Round intermediate calculations to 6 decimal places, e.g. 1.251241 and final answer to 0 decimal places, e.9. 125.) Amount borrowed by Windsor eTextbook and Media Solution List of Accounts Attempts: 3 of 3 used (b) Assume the amount borrowed was $15.600. What was the interest rate if the amount of interest owed was 5572? (Round intermediate calculations to 6 decimal places, e.9. 1.251241 and fnat answer to 0 decimal places, e.\$. 152.) Interest Rate Step by Step Solution
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