The policy of the Black Oyster Pawnshop is to lend up to 30% of the value of a borrower’s collateral. Pete wants to use a $2,000
guitar and a $900 camera as collateral for a loan. What is the maximum amount that he could borrow from Black Oyster?
1 answer:
Answer:
$870
8.7×10²
Step-by-step explanation:
0.3×($900+$2,000)
0.3×$2900
=$870
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