Bozo borrowed $15,000 from Ernie due in 5 years at 6% compounded monthly. Immediately after the debt is contracted, Ernie sells the note to Max for an amount based on 5% compounded monthly. How much does Ernie receive?
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Bozo borrowed $15,000 from Ernie due in 5 years at 6% compounded monthly. Immediately after the debt is
contracted, Ernie sells the note to Max for an amount based on 5% compounded monthly. How much does Ernie
receive?
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- Bozo borrowed $15,000 from Ernie due in 5 years at 6% compounded monthly. Immediately after the debt is contracted, Ernie sells the note to Max for an amount based on 5% compounded monthly. How much does Ernie receive?Sangeeta borrows $4600 from Sam for 9 year(s) at 11.25% compounded quarterly. Then, 3 year(s) before maturity, Sam sells the note to Bill who discounts it based on 12.75% compounded monthly. How much did Bill pay Sam for the note?Joshua borrowed $800 for one year and paid $40 in interest. The bank charged him a service charge of $7. If Joshua paid the $800 in 12 equal monthly payments, what is the APR?
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