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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Question
A man uses a loan program for small businesses to obtain a loan to help expand his vending machine business. The
man borrows $25,000 for 2 years with a simple interest rate of 1.3%. Determine the amount of money the man must repay after 2 years.
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