Question
If you borrowed $1,850 for 5 months at a simple interest rate of 5.50% per annum, how much interest would you be required to pay?
If you borrowed $1,850 for 5 months at a simple interest rate of 5.50% per annum, how much interest would you be required to pay?
Express your answer to two decimal places but don't include symbols in your answer (i.e. $. %, etc.).
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The interest would be 3188 Explanation In order to ...Get Instant Access to Expert-Tailored Solutions
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Financial Analysis with Microsoft Excel
Authors: Timothy R. Mayes, Todd M. Shank
7th edition
1285432274, 978-1305535596, 1305535596, 978-1285432274
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