Question
Your company plans to borrow $5 million for 12 months, and your banker gives you a stated rate of 8 percent interest. Calculate the annual
Your company plans to borrow $5 million for 12 months, and your banker gives you a stated rate of 8 percent interest.
Calculate the annual rate of interest for the following types of loans.
What is the Discounted interest with a 1 percent administration fee.(Round the final answer to 2 decimal places.)
Annual rate% =
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Business Forecasting
Authors: John E. Hanke, Dean Wichern
9th edition
132301202, 978-0132301206
