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Jan Amos
Posts:
30
From:
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Registered:
2/16/06


An old SAT problem
Posted:
Apr 9, 2007 10:57 PM


I ran across old (1926) SAT math problems and one of them puzzles me  it's stated as follows:
A man buys a house and lot for $8,500 but is obliged to pay $500 back taxes on the property. He leases the property at the rate of $75 a month. What rate of interest does this investment bear?
I think I'm missing something here  any clue?
 Jan



