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Selling a Note Shalia Johnson owes $7200 to the Eastside Music Shop. She has agreed to pay the amount in seven months at an interest
Selling a Note Shalia Johnson owes $7200 to the Eastside Music Shop. She has agreed to pay the amount in seven months at an interest rate of 10%. Two months before the loan is due, the store needs $7550 to pay a wholesaler's bill. The bank will buy the note, provided that its return on the investment is 11%. How much will the store receive? Is it enough to pay the bill
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