Fees Compute the specified quantity. You take out a 1-year, $5,000 loan at 7% simple annual interest. The lender charges you a $50 fee. Thinking of the fee as additional interest, what is the actual annual interest rate r you will pay? %
Fees Compute the specified quantity. You take out a 1-year, $5,000 loan at 7% simple annual interest. The lender charges you a $50 fee. Thinking of the fee as additional interest, what is the actual annual interest rate r you will pay? %
Chapter6: Systems Of Equations And Inequalities
Section6.1: Linear And Nonlinear Systems Of Equations
Problem 2ECP: A total of $25,000 is invested in two funds paying 6.5 and 8.5 simple interest. The total annual...
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