Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Lorraine gave her friend an
an interest-free loan of $1500, which her friend paid back in 18
months. Lorraine could have put the money in a savings account for those 18 months, which had a periodic simple interest rate of 2.7% calculated semiannually. Therefore, Lorraine "lost" how much money?

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