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A radio commercial for Eazy Loans states: ”You only pay 22 cents a day for each $300 borrowed.” If you borrow $1500 for 120 days, what amount will you repay and what annual interest rate is the company charging? (Use 360 for the total number of days in a year.)

Answer :

Answer:

The charge would be for 231 on top of the 1500 borrowed

Step-by-step explanation:

1500/300=5

5*.22=1.10

210*1.10=231

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