Question
Joan borrowed $2880 and is to repay the balance plus interest of $80 in 9 months.What was the rate of interest charged? The interest rate
Joan borrowed $2880 and is to repay the balance plus interest of $80 in 9 months.What was the rate of interest charged?
The interest rate is ____%
(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)
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Financial management theory and practice
Authors: Eugene F. Brigham and Michael C. Ehrhardt
12th Edition
978-0030243998, 30243998, 324422695, 978-0324422696
