A firm arranged for a 120-day bank loan at an annual rate of interest of 12 percent. If the loan is for $160,000, how mu

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answerhappygod
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A firm arranged for a 120-day bank loan at an annual rate of interest of 12 percent. If the loan is for $160,000, how mu

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A firm arranged for a 120-day bank loan at an annual rateof interest of 12 percent. If the loan is for $160,000, how muchinterest in dollars will the firm pay? (Assume a 360-day year.)
detailed solving is highly appreciated.
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