Nathan is required to pay George $9,500 today but he wishes to postpone the payment for 60 days. What amount should George be willing to accept from Nathan in 60 days if he can earn 2.50% p.a. simple interest on his money? $0.00 Round to the nearest cent

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Nathan is required to pay George $9,500 today but he wishes to postpone the payment
for 60 days. What amount should George be willing to accept from Nathan in 60 days if
he can earn 2.50% p.a. simple interest on his money?
$0.00
Round to the nearest cent
Transcribed Image Text:Nathan is required to pay George $9,500 today but he wishes to postpone the payment for 60 days. What amount should George be willing to accept from Nathan in 60 days if he can earn 2.50% p.a. simple interest on his money? $0.00 Round to the nearest cent
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