Brent Pickett borrowed $5000 from his brother Dave. He agreed to repay the money at the end of 2 years, giving Dave the same amount of interest that he would have received if the money had been invested at 3.25% compounded quarterly. How much money did Brent repay his brother? Brent repaid his brother $. (Round to the nearest cent as needed.)
Brent Pickett borrowed $5000 from his brother Dave. He agreed to repay the money at the end of 2 years, giving Dave the same amount of interest that he would have received if the money had been invested at 3.25% compounded quarterly. How much money did Brent repay his brother? Brent repaid his brother $. (Round to the nearest cent as needed.)
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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Transcribed Image Text:Brent Pickett borrowed $5000 from his brother Dave. He agreed to repay the money at the end of 2 years, giving Dave the same amount of interest that he would have received if the money had been invested at
3.25% compounded quarterly. How much money did Brent repay his brother?
Brent repaid his brother $
(Round to the nearest cent as needed.)
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