Nominal interest rate
Olena loans her sister Irini $8,000. The loan is to be repaid at the nominal interest rate of 4.8% payable monthly. The monthly payments are to be for $100 except for final smaller payment. How much does Irini owe Olena at end of one year?
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Edward can run around quarter-mile track in 90 seconds. Jacob can run around same track in 72 seconds. They started running in same direction from the same place at the same time.
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