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September 21, 2014

Homework Help: Intrest Problem

Posted by Scott on Saturday, March 8, 2008 at 5:52pm.

Carol Miller went to Europe and forgot to pay her 740.00 mortgage payment on her New Hampshire ski house. For her 59 days overdue on her payment, the bank charged her a penalty of 15 dollars. What was the rate of intrest charged by the bank? Round to the nearest hundreth percent (assume 360 days).

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