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A farmer and his horses

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A farmer sold a team of horses for $440, but did not receive his pay for them until 1 yr, 8 mo after the sale.  He had at the same time another offer of $410 for them.  Did he gain or lose by the sale and by how much, money being worth 6%/yr? (Milne, Standard Arithmetic, 1892)

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"A farmer and his horses," Loci (March 2006)

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