4.) A radio commercial for a loan company states: "You only pay 30 a day...
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Accounting
4.) A radio commercial for a loan company states: "You only pay 30 a day for each $500 borrowed." If you borrow $2,015 for 183 days, what amount will you repay, and what annual interest rate is the company actually charging? (Assume a 360-day year.) a. Amount you repay=$________ (Round to two decimal places.) b. Annual interest rate= ____________ (Round to four decimal places.)
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