Question
Elizabeth secured a three-month loan at an interest rate of 4.5% and borrowed $10,000 to purchase an oven. When the loan matures, Elizabeth will pay
Elizabeth secured a three-month loan at an interest rate of 4.5% and borrowed $10,000 to purchase an oven.
When the loan matures, Elizabeth will pay ________ in interest to the bank.
- a.)
- $54.00
- b.)
- $135.00
- c.)
- $61.73.00
- d.)
- $112.50
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
