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book Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller cover

Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

النسخة 12الرقم المعياري الدولي: 978-0132605540
book Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller cover

Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller

النسخة 12الرقم المعياري الدولي: 978-0132605540
تمرين 45
Solve the following application problems. Round to the nearest cent.
MAXIMIZING INTEREST Bank of America has $850,000 to lend for 9 months. It can lend it to an automobile dealer at a simple interest rate of 12%, or it can lend it to a small contractor that will pay 12% compounded monthly. How much additional interest would the compound interest loan to the small business generate? Find the effective interest rate for both loans to the nearest hundredth of a percent. __________________
التوضيح
موثّق
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Consider the simple interest case.
The ...

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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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