Mal reynolds borrows 320000 from the independents free bank, Business Economics

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Mal reynolds borrows 320000 from the independents free bank

Mal Reynolds borrows $320,000 from the Independents Free Bank to buy a used spaceship. The bank charges an interest rate of 12%. Ten years later, the Bank demands repayment in full, including all accumulated interest. There were no payments along the way. How much does Mal owe?

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Business Economics: Mal reynolds borrows 320000 from the independents free bank

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