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# In each problem, (1) compute the actual exact interest (365-day year) and (2) estimate the interest ...

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In each problem, (1) compute the actual exact interest (365-day year) and (2) estimate the interest by rounding the principal to the nearest hundred dollars. For each estimate, assume that a year has 360 days and use the given suggestion to create a shortcut. Round answers to the nearest cent.

 Actual Exact Estimated Principal, Rate, and Time Interest Interest a. $3,600 at 8.12% for 45 days __________ __________ (let I = 8%) b.$2,515 at 8% for 91 days __________ __________ (let T = 90 days) c. \$3,280 at 11.8% for 60 days __________ __________ (let I = 12%)
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## Contemporary Business Mathematics for Colleges

Edition: 16th
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