2.A man is required to pay 57500 at the end of 15 days or 60000 at the end of 60 days. Determine the rate of interest

College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 1E: An annuity is a sum of money that is paid in regular equal payments. The __________ of an annuity is...
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2.A man is required to pay 57500 at the
end of 15 days or 60000 at the end of 60
days. Determine the rate of interest
Transcribed Image Text:2.A man is required to pay 57500 at the end of 15 days or 60000 at the end of 60 days. Determine the rate of interest
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