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How many weeks would it take to increase the debt of a simple discount loan by 114% if the annual simple discount rate is 28%? Round your answer to the nearest week.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter17: Financial Markets

Section: Chapter Questions

Problem 6SCQ: What is the total amount of interest from a 5,000 loan after three years with a simple interest rate...

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How many weeks would it take to increase the debt of a simple discount loan by 114% if
the annual simple discount rate is 28%?
Round your answer to the nearest week.

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