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The lawyer for a credit union member has sent a cheque for $2604.69 in full settlement of the member's loan balance including simple interest at
The lawyer for a credit union member has sent a cheque for $2604.69 in full settlement of the member's loan balance including simple interest at 5-% for 10 months. How much of the payment is interest? The amount of the payment that is interest is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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Introduction To Corporate Finance
Authors: Laurence Booth, Sean Cleary
3rd Edition
978-1118300763, 1118300769
