Maki receives money from her relatives every year on her birthday. Last year, she received a total of $650. This year, she recei
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Answer:
given,
Amount borrowed = $71500
Time = 200 days
interest rate = 7.5 %
ordinary interest rate for year =
= $5362.5
exact interest rate for the year =
= $2938.35
hence, the exact interest rate is less than the ordinary interest rate which means you should choose exact interest rate.