Question
Suppose that Sarah and Halley each borrow the same amount of money at the same time. Sarah loan is a simple interest loan whose annual
Suppose that Sarah and Halley each borrow the same amount of money at the same time. Sarah loan is a simple interest loan whose annual rate is 8.9%. Halley loan is a simple discount loan whose annual rate is 6.3%.
How many months must elapse in order for their maturity values to be the same?
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Engineering economy
Authors: Leland Blank, Anthony Tarquin
7th Edition
9781259027406, 0073376302, 1259027406, 978-0073376301
