You have agreed to loan some money to a friend at a simple interest rate of 190% which is outrageous but still about half of the payday loan places! To make it easy on your friend who never took Math 140 you tell him you'll give him some money now and he just needs to pay you back a nice even $700 in 2 weeks. How much money do you hand him? (nearest $1)

College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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You have agreed to loan some money to a friend at a simple interest rate of 190% which is outrageous but
still about half of the payday loan places! To make it easy on your friend who never took Math 140 you tell
him you'll give him some money now and he just needs to pay you back a nice even $700 in 2 weeks. How
much money do you hand him?
(nearest $1)
Transcribed Image Text:You have agreed to loan some money to a friend at a simple interest rate of 190% which is outrageous but still about half of the payday loan places! To make it easy on your friend who never took Math 140 you tell him you'll give him some money now and he just needs to pay you back a nice even $700 in 2 weeks. How much money do you hand him? (nearest $1)
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ISBN:
9781938168383
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Jay Abramson
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