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What Is the Time Period of a Loan for $3,000

Question 53

Multiple Choice

What is the time period of a loan for $3,000, at 10% ordinary interest, if the amount of interest is $145.00? (Round any fraction to the next higher day)


A) 174 days
B) 176 days
C) 177 days
D) 178 days

Correct Answer:

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