Question
A bank charges interest of J4 = 7.369%. What is this expressed as a. on a per annum compounded semi-annual basis? b. on a per
A bank charges interest of J4 = 7.369%. What is this expressed as a. on a per annum compounded semi-annual basis? b. on a per annum compounded once every three year basis? Terence Tuatara borrowed $11,369 eight months ago. He agreed to repay the loan 11 months from today at the interest rate determined above. c. How much will he have to pay back? d. The bank says that Terence can pay back $11,963 today to settle the loan completely. Should Terence accept this offer?
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Cases In Healthcare Finance
Authors: Louis C. Gapenski
3rd Edition
1567932444, 9781567932447
