Mary Ott is going to borrow $5,000 for 90 days and pay $140 interest. What is the
Question:
Mary Ott is going to borrow $5,000 for 90 days and pay $140 interest. What is the effective rate of interest if the loan is discounted?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answered By
Grace Igiamoh-Livingwater
I am a qualified statistics lecturer and researcher with an excellent interpersonal writing and communication skills. I have seven years tutoring and lecturing experience in statistics. I am an expert in the use of computer software tools and statistical packages like Microsoft Office Word, Advanced Excel, SQL, Power Point, SPSS, STATA and Epi-Info.
1+ Reviews
10+ Question Solved
Related Book For 
Foundations Of Financial Management
ISBN: 9780073295817
12th Edition
Authors: Stanley B Block, Geoffrey A Hirt
Question Posted:
