Tina Mier must pay a $1,250 furniture bill. A finance company will loan Tina $1,250...
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Accounting
Tina Mier must pay a $1,250 furniture bill. A finance company will loan Tina $1,250 for 8 months at a 12.30% discount rate. The finance company told Tina that if she wants to receive exactly $1,250, she must borrow more than $1,250. The finance company gave Tina the following formula: Amount of cash to be received What to ask for 1 - (Discount rate * Time of loan) Calculate Tina's loan request. (Do not round intermediate calculations. Round your final answer to the nearest cent.) Lolan request
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