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plz answer fast with all steps and formulas. need formulas Rob borrowed $5,000 from Chris and signed a contract agreeing to pay it back in
plz answer fast with all steps and formulas. need formulas
Rob borrowed $5,000 from Chris and signed a contract agreeing to pay it back in 10 months' time at 8.85% simple interest per annum. Four months after signing the contract, Chris sold the contract to Stan at a price that would earn Stan 6.0% simple interest. What was CHRIS' rate of return during the time he held the contract (2 decimals) Step by Step Solution
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