Mathematics Homework Solutions
#17037
Business Math : Simple Interest and Discount Rate
On July 1, B.Good borrowed $2000 from G. Whiz and agreed to pay the debt plus 8% simple interest in 270 days. Thirty days after borrowing the money, B. Good settled the debt by having it discounted at a simple interest rate of 7%. How much did G. Whiz recieve?
A simple interest problem involving a discounted rate is solved.
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