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Gwar [14]
3 years ago
13

Work the following interest problem.

Mathematics
1 answer:
Nataliya [291]3 years ago
6 0
Loan Amount: $13,000
Method of payment: discount basis
Amount of Interest: $625
<span>Term of loan: 1 year
Solution:
=> 13 000 + 625 (interest) = 13 625 dollars.
=> </span>13 625 dollars / 12 months = 1135.42 dollars monthly
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