Question
If a lender makes a simple loan of $500 for 4 years and charges 7%, then the amount that the lender receive at maturity is.
If a lender makes a simple loan of $500 for 4 years and charges 7%, then the amount that the lender receive at maturity is. ________
640. (Round your response to the nearest two decimalplace)
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Principles of Macroeconomics
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
12th edition
134078802, 978-0134078809
