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FIRE TRUCK Bergen County borrows $ 3 8 5 , 0 0 0 to purchase a new pumper. The loan must be repaid once property

FIRE TRUCK Bergen County borrows $

385, 000

to purchase a new pumper. The loan must be repaid once property taxes are paid for the year, or in

200

days, at a rate of

6 % .

How much more interest would be required to pay using ordinary interest compared to exact interest?

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