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23 May, 08:49

Sam Sounds received a $320 discount loan to purchase a stereo. The loan was offered at 16% for 90 days. Find the interest in dollars and the proceeds for the following problem.

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  1. 23 May, 08:58
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    Hi there

    To find the interest

    I=320*0.16 * (90:360)

    I=12.8

    To find The proceeds

    P=320-12.8=307.2

    Good luck!
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