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Quizzes & Tests Take a Test Raya Smaidi Google Chrome c https:// https:// /Student/PlayerTest aspx?testld 124425814&centerwin; yes www.mathxl.com Chegg BOOK Raya Smaidi 5/4/16 11:34 PM Quiz: Unit 2 Quiz Submit Quiz Post a This Question 1 p 16 of 25 (12 complete This Quiz: 25 pts possible HOW IT W Sub A man borrowed $3000 from a bank for 3 months. A friend was cosigner of the man's personal note. The bank collected 3 simple interest on the date of maturity. 1 Pos a) How much did the man pay for the use of the money b) Determine the amount he repaid to the bank on the due date of the note. a) The man paid or the use of the money HA fx B b) On the due date of the note, the man repaid to the bank. Enter your answer in each of the answer boxes. Math 121 Syllabus S....doc mymathlabplushelp.htm Show all downloads. 34 PM 5/4/2016

Explanation / Answer

All Amounts in $ a) The man paid $ 3,000 X 3.5% X 3 months = 26.25 $ for the use of the money b) On the due date of the note, the man repaid $ 3,000 + $ 26.25 = $ 3,026.25 back to the bank.

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