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Rick Morrow Is Willing to Lend Modest Amounts of Money

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Short Answer

Rick Morrow is willing to lend modest amounts of money to his employees for short terms at 9% ordinary simple interest (360-day year). In May, one employee borrowed some money for 30 days. In June, she repaid the loan plus $6.30 interest. Compute the amount that the employee had borrowed.

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Definitions:

Managing Conflict

The process of identifying and addressing differences that, if left unchecked, could affect project performance.

Conflict Management

The approach of recognizing and addressing disagreements in a rational, equitable, and effective way.

Competing

Engaging in a contest or rivalry with others where the aim is to win or achieve a particular goal.

Collaborating Strategy

A method of working together cooperatively with others to achieve a common goal or solve a problem.

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