Question
If you borrow $5,300 at $400 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as
| If you borrow $5,300 at $400 interest for one year, what is your effective interest rate for the following payment plans? (Input your answers as a percent rounded to 2 decimal places.) |
| Effective Rate of Interest | |
| a. Annual payment | % |
| b. Semiannual payments | % |
| c.Quarterly payments | % |
| d. Monthly payments | % |
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Contemporary Issues In Development Finance
Authors: Joshua Yindenaba Abor, Robert Lensink, Charles Komla Delali Adjasi
1st Edition
1138324329, 978-1138324329
