Mathematics

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10 May, 23:16

Keith Wendell plans to borrow $5,810.

He has decided on a term of 95 days at 8% interest.

He has a choice of two lenders.

One calculates interest using a 360-day year and the other uses a 365-day year.

Find the amount of interest Wendell will save by using the lender with the 365-day year.

$1.54

$1.67

$1.63

$1.68

+2

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