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QUESTION
Karim was planning for his vacation to the Bahamas. To cover his costs, he took out a $15,800, 4% simple discount note and paid a $40 bank discount. What was the approximate length of his loan in days
Karim was planning for his vacation to the Bahamas. To cover his costs, he took out a $15,800, 4% simple discount note and paid a $40 bank discount. What was the approximate length of his loan in days? Assume a 360-day year.
