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Unformatted text preview: E 12. Columbus Corp. borrowed $10,000 at a rate of 8%, simple interest , with interest paid at the end of each month. The bank uses a 360-day year. How much interest would the firm have to pay in a 30-day month? A) $43.65 B) $34.54 C) $66.67 D) $51.29 E) $27.84 Points Earned: 5.0/5.0 Correct Answer(s): C 13. In 1958 the average tuition for one year at an Ivy League school was $1,800. Thirty years later, in 1988, the average cost was $13,700. What was the growth rate in tuition over the 30-year period? A) 12% B) 9% C) 7% D) 6% E) 8% Points Earned: 5.0/5.0 Correct Answer(s): C...
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