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Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back his nephew $4,567. Determine the annual interest rate to the nearest tenth of a percent that Nicolas Cage paid on the loan

Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid back his nephew $4,567. Determine the annual interest rate to the nearest tenth of a percent that Nicolas Cage paid on the loan

Intermediate Algebra
Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter2: Solving Linear Equations
Section2.2: Use A Problem Solving Strategy
Problem 2.53TI: Eduardo noticed that his new car loan papers stated that with a 7.5% simple interest rate, he would...
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Nicolas Cage borrowed $3,456 from his nephew to fund his new movie. Eight months later, he paid
back his nephew $4,567. Determine the annual interest rate to the nearest tenth of a percent that Nicolas
Cage paid on the loan

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