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Determining an Annual Interest Rate. A payday loan company charges 4.25 percent interest for a two-week period. What is the annual interest rate? Computing CD
Determining an Annual Interest Rate. A payday loan company charges 4.25 percent interest for a two-week period. What is the annual interest rate? Computing CD Interest. A certificate of deposit will often result in a penalty for withdrawing funds before the maturity date. If the penalty involves two months of interest, what would be the amount for early withdrawal on a $20,000, 4 percent CD
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