Actual Rate of Interest Assignment

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February 18th, 2020

Casey borrowed $2500 from the bank for 11 months. The bank discounted the loan at 5%. How much was the interest? $ State your result to the nearest penny. How much did Casey receive from the bank? $ State your result to the nearest penny. What was the actual rate of interest? % State your result to the nearest hundredth of a percent.

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