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Question 14

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Calculate the number of days from January 14, 2003 to March 9, 2003 using ordinary time.

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David Rachel bought a lawn tractor for $ 1150, making a down payment of $ 50 and financing the remainder for 12 months at $ 100 per month. What is the total installment cost?

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David Rachel bought a lawn tractor for $ 1150, making a down payment of $ 50 and financing the remainder for 12 months at $ 100 per month. What is the finance charge?

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In order to have enough motorcycles for opening day, Jim's Cycle Shack took out a $8620 loan at 18% with ordinary simple interest at exact time or $129.30. What is the time period (in days) of the loan?

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On October 4, 2003 Gober's Landscaping borrowed $ 7500 for equipment at 6 % interest with due date of December 15, 2003. What is the interest on the loan using ordinary simple interest at exact time?

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David Rachel bought a lawn tractor for $ 1150, making a down payment of $ 50 and financing the remainder for 12 months at $ 100 per month. What is the APR using the formula? {Round to the nearest hundredth.}

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