amount óf in ng the exact

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Find the amount of interest (in $) on a loan of $8,000, at 5% interest, for 60
days using the exact interest method. (Round your answer to the nearest
cent.)
$
Transcribed Image Text:Find the amount of interest (in $) on a loan of $8,000, at 5% interest, for 60 days using the exact interest method. (Round your answer to the nearest cent.) $
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