Question
A bank made a $12,000 short-term loan to a new book store and earned $187.40 interest in only 60 days. Compute the exact simple interest
A bank made a $12,000 short-term loan to a new book store and earned $187.40 interest in only 60 days.
Compute the exact simple interest rate (365-day year) that the bank charged. Round to nearest tenth of a percent. %
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Financial Accounting
Authors: Robert K. Eskew, Daniel L. Jensen
5th Edition
0070213550, 978-0070213555
