Suppose that you borrow $3000.00 from a friend and promise to pay back $4755.00 in 3 years. What simple interest rate will you pay? The simple interest rate is% (Round to the nearest tenth as needed.)
Suppose that you borrow $3000.00 from a friend and promise to pay back $4755.00 in 3 years. What simple interest rate will you pay? The simple interest rate is% (Round to the nearest tenth as needed.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 16E: Mortgage What is the monthly payment on a 30-year mortgage of $80,000 at 9% interest? What is the...
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