Question
The table store offers a consumer loan of $5000 with 12 monthly installments and uses the add-on method of interest calculation with an interest rate
The table store offers a consumer loan of $5000 with 12 monthly installments and uses the add-on method of interest calculation with an interest rate of 9%. How much interest will I pay over the 12 months (round to the nearest dollar)?
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Essentials Of Managerial Finance
Authors: Scott Besley, Eugene F. Brigham
12th Edition
0030258723, 9780030258725
