Bank Discount Note Julie Monte borrowed $3650 from her
Chapter 11, Problem 11.1.100(choose chapter or problem)
Bank Discount Note Julie Monte borrowed $3650 from her bank for 8 months. The bank discounted the loan at 7.5%. a) How much interest did Julie pay the bank for the use of its money? b) How much did she receive from the bank? c) What was the actual rate of interest she paid?
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