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wmosley
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Trying to come up with an Equation?
7. John borrowed $1,000.00 discounted at 10% for six months.
7a. How much did he receive when the loan was made?
7b. What annual rate of interest is he paying for the money actually received?
7. John borrowed $1,000.00 discounted at 10% for six months.
7a. How much did he receive when the loan was made?
7b. What annual rate of interest is he paying for the money actually received?
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