Mathematics, 22.02.2022 15:50 Brook211

Jo borrowed $1,900 for 8 months from a bank. The bank discounted the loan at 3.5%. a. How much interest did Jo pay the bank for the use of its money?
b. How much did he receive from the bank?
c. What was the actual rate of interest he paid?

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Jo borrowed $1,900 for 8 months from a bank. The bank discounted the loan at 3.5%. a. How much int...

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Jo borrowed $1,900 for 8 months from a bank. The bank discounted the loan at 3.5%. a. How much interest did Jo pay the bank for the use of its money? b. How much did he receive from the bank? c. What was the actual rate of interest he paid?

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Another question on Mathematics

Jo borrowed $1,900 for 8 months from a bank. The bank discounted the loan at 3.5%. a. How much interest did Jo pay the bank for the use of its money?
b. How much did he receive from the bank?
c. What was the actual rate of interest he paid?