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A man needed money to buy lawn equipment he borrow $500 for eight months and paid $53.94 in interest what was the rate of interest per yer?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A man needed money to buy lawn equipment he borrow $500 for eight months and paid $53.94 in interest what was the rate of interest per yer?

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