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Perform the tasks in the parts below. You must show your work! Assume you borrowed $25,000 on July 1, 2018 and are due to pay
- Perform the tasks in the parts below. You must show your work!
- Assume you borrowed $25,000 on July 1, 2018 and are due to pay back $30,000 on June 30, 2019. What is the Actuarial Interest Rate? (8 points)
- Assume you borrowed $25,000 on January 1, 2018 and you pay back $14,500 on June 30, 2018 and $14,500 on December 31, 2018. What is the Actuarial Interest Rate? (8 points)
- What is the Annual Percentage Rate (APR) for the conditions on Part 1a? (8 points)
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Principles Of Accounting Volume 1 Financial Accounting
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
1st Edition
1593995946, 978-1593995942
