Question
Automotive Excellence Inc. borrowed $17,000.00 on June 2 with an interest rate of 7.7% per annum. On September 1, $4500.00 was repaid, and on October
Automotive Excellence Inc. borrowed $17,000.00 on June 2 with an interest rate of 7.7% per annum. On September 1, $4500.00 was repaid, and on October 3, $5300.00 was repaid. Automotive Excellence paid the balance of the loan on November 14.
What was the final payment?
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Applied Quantitative Finance
Authors: Härdle
3rd Edition
3662544857, 978-3662544853
