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Need some help!

  1. Sep 14, 2004 #1
    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?
     
    Last edited: Sep 14, 2004
  2. jcsd
  3. Sep 14, 2004 #2
    re: I edited the problem...

    I edited the problem, everything should read correctly now..
     
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