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please help Oakwood Plowing Company purchased two new plows for the upcoming winter. In 200 days, Oakwood must make a single payment of $18,241 to
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Oakwood Plowing Company purchased two new plows for the upcoming winter. In 200 days, Oakwood must make a single payment of $18,241 to pay for the plows. As of today, Oakwood has $17,400. Assume the Oakwood puts the money in a bank today, what rate of Interest will it need to pay off the plows in 200 days? (Use 300 days a year. Do not round Intermediate calculations. Round your answer to the nearest tenth percent.) Rate of interest Step by Step Solution
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