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
Section: Chapter Questions
Problem 1PS
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Solve the problem and what is asked. Write your answer on clean paper clearly and readable. Don't forget to show your answer then box the final answer.
Transcribed Image Text:A $5,000 loan was to be repaid with 8% simple interest. A total of $5,350
was paid. How many months was the loan outstanding?
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