Finite Mathematics for Business, Economics, Life Sciences and Social Sciences Plus NEW MyLab Math with Pearson eText -- Access Card Package (13th Edition)

13th Edition

ISBN: 9780321947628

Author: Raymond A. Barnett, Michael R. Ziegler, Karl E. Byleen

Publisher: PEARSON

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Textbook Question

Chapter 3.1, Problem 56E

In all problems involving days, a 360 -day year is assumed. When annual rates are requested as an answer, express, express the rate as a percentage, correct to three decimal places, unless directed otherwise. Round dollar amounts to the nearest cent.

A check for $ 3 , 097.50 was used to retire a 5 -month $ 3 , 000 loan. What annual rate of interest was charged?

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Chapter 3.1, Problem 55E

Chapter 3.1, Problem 57E

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Chapter 3 Solutions

Finite Mathematics for Business, Economics, Life Sciences and Social Sciences Plus NEW MyLab Math with Pearson eText -- Access Card Package (13th Edition)

Ch. 3.1 - (A) Your sister has loaned you 1,000 with the...Ch. 3.1 - Find die total amount due on a loan of $500 at 12...Ch. 3.1 - Repeat Example 2 with a time period of 6 months.Ch. 3.1 - Repeat Example 3, assuming that you pay $9,828.74...Ch. 3.1 - Repeat Example 4 assuming that 90 days after it...Ch. 3.1 - Repeat Example 5 if 500 shares of stock were...Ch. 3.1 - A credit card has an annual interest rate of...Ch. 3.1 - In Problems 1-4, if necessary, review Section A.I....Ch. 3.1 - In Problems 1-4, if necessary, review Section A.I....Ch. 3.1 - A basketball team has a 16-5 won-loss record. Find...

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Solution Summary: The author calculates the annual rate of interest charged when a check for 3,097.50 was used to retire the loan.

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