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Business, 21.09.2019 04:10 allierl2001

Acity government has approved the construction of an $800 million sports arena. up to $480 million will be raised by selling bonds that pay simple interest at a rate of 4% annually. the remaining amount (up to $640 million) will be obtained by borrowing money from an insurance company at a simple interest rate of 2%. determine whether the arena can be financed so that the annual interest is $22 million. (if there is no solution, enter no solution.)

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Acity government has approved the construction of an $800 million sports arena. up to $480 million w...
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