Question
Compute the rate for the following loan. Use ordinary interest. (Round answer to the nearest tenth percent) Principal Rate Time Interest $16,000 15 months $1,700
Compute the rate for the following loan. Use ordinary interest. (Round answer to the nearest tenth percent)
| Principal | Rate | Time | Interest |
| $16,000 | 15 months | $1,700 |
Step by Step Solution
There are 3 Steps involved in it
Step: 1
To compute the rate for the given loan using ordinary interest we can use the formul...
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Step: 2
Step: 3
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
