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Jo borrowed $4,750 for 4 months from a bank. The bank discounted the loan at 3.5%. a. How much interest did Jo pay the bank

Jo borrowed $4,750 for 4 months from a bank. The bank discounted the loan at 3.5\%. a. How much interest did Jo pay the bank for the use of its money? b. How much did he receive from the bank? c. What was the actual rate of interest he paid

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