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On March 1, Charlie signed a contract to pay Andrew or his designate $2000 plus interest at a simple interest rate of 8% p.a. on
On March 1, Charlie signed a contract to pay Andrew or his designate $2000 plus interest at a simple interest rate of 8% p.a. on June 1st, and $8000plus interest at a simple interest rate of 8% on September 1st. Andrew sold the contract to Edward on May 1st at a price negotiated to provide Edward with a 10% simple interest rate of return. What price did Edward pay?
THIS IS BUSINESS MATH SIMPLE INTEREST/SIMPLE DISCOUNT/COMPOUND INTEREST QUESTION
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