Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She

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Julie has a low credit rating, plus she was furloughed from her job 2 months ago. She has a new job starting next week and expects a salary to start again in a couple of weeks. Since she is a little short on money to pay her rent, she decided to borrow $100 from a loan company, which will charge her only $10 interest if the $110 is paid no more than 1 week after the loan is made. What are the

(a) Nominal annual

(b) Effective annual


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Engineering economy

ISBN: 978-0073376301

7th Edition

Authors: Leland Blank, Anthony Tarquin

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