If you paid $56 to a loan company for the use of $1, 401 for 118 days, what annual rate of interest did they charge? (Assume a 360-day year.) The annual rate of interest is % (Round to three decimal places.)
If you paid $56 to a loan company for the use of $1, 401 for 118 days, what annual rate of interest did they charge? (Assume a 360-day year.) The annual rate of interest is % (Round to three decimal places.)
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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If you paid $56 to a loan company for the use of $1, 401 for 118 days, what annual rate of interest did they charge? (Assume a 360-day year.) The annual rate of interest is % (Round to three decimal places.)
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