Question
Use the add-on method for determining interest on a loan of $2850, with an annual rate of 12% and a term of 5 years. Then,
Use the add-on method for determining interest on a loan of $2850, with an annual rate of 12% and a term of 5 years. Then, determine the annual interest rate during the last month of the loan. During the last month of the loan, the annual interest rate is %. (Type a whole number.)
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Essentials Of Financial Management Text And Cases
Authors: George C Philippatos
1st Edition
0816267162, 978-0816267163
