How much interest will you pay

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Reference no: EM131968431

a) If your business borrows $100,000 for 7 days at an interest rate of 8%, how much interest will you pay? Show your work and express the answer in the proper format.

b) If the interest rate is 11%, how much will you pay on this 7-day loan? Show your work and express the answer in the proper format.

Reference no: EM131968431

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