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Question 5 - 2 marks Your bank will lend you $10,000 for 60 days at a cost of $50 interest. a. What is your annual
Question 5 - 2 marks Your bank will lend you $10,000 for 60 days at a cost of $50 interest. a. What is your annual rate of interest? (Use 365 days in a year. Do not round intermediate calculations. Round the final answer to 2 decimal places.) Question 6-2 marks You are going to borrow $30,000 for one year at 10 percent interest. What is the annual rate of interest if the loan is discounted? (Use 365 days in a year. Round the final answer to 2 decimal places.) Instructions 1. You have to complete problem in MS Excel based on Chapter material 2. These problems will be similar to problems on Chapter Test on November 10 3. Please submit MS Excel file to the eConestoga dropbox by 11 am November 10
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