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Business, 18.03.2021 01:10 lkarroum3733

Ordinary simple interest brings increased revenue to the lender. The general practice in the United States and in international business transactions is to use ordinary simple
interest; it is employed throughout this Outline, unless specified otherwise.
SOLVED PROBLEMS
3.1 Find (a) the ordinary and (b) the exact simple interest, on a 60-day loan of $1500
at 14%
We have P = 1500 and r = .0145.​

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Ordinary simple interest brings increased revenue to the lender. The general practice in the United...
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