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The Trust saving and loan has offered you a simple interest loan with an interest payment of $6,000. The credit terms are 2/13 n40 The
The Trust saving and loan has offered you a simple interest loan with an interest payment of $6,000. The credit terms are 2/13 n40 The loan has a principle amount of $200,000. If you borrow the money from the end of the discount period to the due date, what is the cost of loan (express as a simple interest rate with 4 decimals)
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Financial Management Principles And Applications
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
10th Edition
0131450654, 9780131450653
