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Denarea will receive a $1,043.50 paycheck in 7 days. A payday lender offers to give her cash today for this check for a fee 1
Denarea will receive a $1,043.50 paycheck in 7 days. A payday lender offers to give her cash today for this check for a fee 1 12 % of the check amount. Find (a) the amount of the fee, (b) the
amount she will receive, (c) the equivalent simple discount rate, and (d) the equivalent simple interest rate
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