If your business borrows 100000 for 7 days at an interest, Financial Management

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If your business borrows 100000 for 7 days at an interest

a) If your business borrows $100,000 for 7 days at an interest rate of 8%, how much interest will you pay? Show your work and express the answer in the proper format.

b) If the interest rate is 11%, how much will you pay on this 7-day loan? Show your work and express the answer in the proper format.

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Financial Management: If your business borrows 100000 for 7 days at an interest

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Financial Management: If your business borrows 100000 for 7 days at an interest

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