kerryjohanna kerryjohanna

23-02-2024
Mathematics

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Oakwood Plowing Company purchased two new plows for the upcoming winter. In 200 days, Oakwood must make a single payment of $19,375 to pay for the plows. As of today, Oakwood has $18,600. Assume the Oakwood puts the money in a bank today, what rate of interest will it need to pay off the plows in 200 days?

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