Ms. Daphnee Rosagas needs 5,500 on August 19, 1991 for her children's school expenses. She plans to repay the money on December 6, 1991. What size of loan should she request from the Employees Credit Cooperative if the interest in advance is 6 3/8% (Simple Discount)

CONCEPTS IN FED.TAX.,2020-W/ACCESS
20th Edition
ISBN:9780357110362
Author:Murphy
Publisher:Murphy
Chapter6: Business Expenses
Section: Chapter Questions
Problem 56P
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Ms. Daphnee Rosagas needs 5,500 on August 19, 1991 for her children's school expenses. She plans to repay the money on December 6, 1991. What size of loan should she request from the Employees Credit Cooperative if the interest in advance is 6 3/8% (Simple Discount)

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