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You have two investment opportunities. One will have an 8.0% rate of return on an investment of $530; the other will have a 10.0%
You have two investment opportunities. One will have an 8.0% rate of return on an investment of $530; the other will have a 10.0% rate of return on principal of $730. You would like to take advantage of the higher-yielding investment but have only $530 available. Required: What is the maximum rate of interest that you would pay to borrow the $200 needed to take advantage of the higher yield? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Maximum rate of interest %
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