Question
10. value: 1.00 points If you borrow $9,500 at $760 interest for one year, what is your effective interest rate for the following payment plans?
10.
value: 1.00 points
| If you borrow $9,500 at $760 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) |
| Effective Rate of Interest | |
| a. Annual payment | % |
| b. Semiannual payments | % |
| c.Quarterly payments | % |
| d. Monthly payments | % |
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Adventure Finance
Authors: Aunnie Patton Power
1st Edition
3030724271, 978-3030724276
