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Problem 5 . 1 5 A 3 % discount is offered for cash payment of a $ 2 5 0 0 bill, due at the

Problem 5.15
A 3% discount is offered for cash payment of a $2500 bill, due at the end of 90 days. At what rate of simple interest earned over the 90 days is cash payment made? Use the Banker's rule.
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