2. Angel borrowed 120, 000 from joseph. If Angela agreed to pay an 8% annual interest rate, calculatae the amount of interest she must pay if the loan period is: (a) one year (b) 9 months (c) 18 months

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Solve the following problem with full solution and without using excel.

2. Angel borrowed 120, 000 from
joseph. If Angela agreed to pay an 8%
annual interest rate, calculatae the
amount of interest she must pay if the
loan period is:
(а) one year
(b) 9 months
(с) 18
months
Transcribed Image Text:2. Angel borrowed 120, 000 from joseph. If Angela agreed to pay an 8% annual interest rate, calculatae the amount of interest she must pay if the loan period is: (а) one year (b) 9 months (с) 18 months
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