Question
Determine the annual financing cost % of a 6-month (183 day) $376,619 discounted bank loan at a stated annual interest rate of 7 percent. Assume
Determine the annual financing cost % of a 6-month (183 day) $376,619 discounted bank loan at a stated annual interest rate of 7 percent. Assume that no compensating balance is required and that there are 365 days per year. Round your answer to two decimal places.
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Investment Science
Authors: David G. Luenberger
2nd Edition
0199740089, 978-0199740086
