pipo9811 pipo9811
  • 07-02-2020
  • Business
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A loan shop in town offers emergency loans of up to $600 for 1 month. The shop charges a 5% fee of the amount for the 1-month period. If a person borrows $600 for one month, what is:a)(8 points)the nominal interest rate per year?b)(7 points)the effective rate per year?

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korban2 korban2
  • 07-02-2020
Point intercept form look up the equation
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