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Tim Tele received a $380 discount loan to purchase a DVD player. The loan was offered at 18% for 60 days. Find the interest in dollars and the proceeds for the following problem.

Verified Answer :

Aliwohaish12

I = Abrt = 380(0.18/360)60 = $11.40
Ar = Ab-I = 380 - 11.40 = $368.60 = Amt. received or proceeds.

Answer:A=11.40

             B=368.60

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