If a lender makes a simple loan of $300 for 4 years and charges 8%, then the amount that the lender receive at maturity is $. (Round your response to the nearest two decimal place) If a lender makes a simple loan of $2000 for one year and charges $130 interest, then the simple interest rate on that loan is%. (Round your response to the nearest whole number) If a borrower must repay $106.50 one year from today in order to receive a simple loan of $100 today, the simple interest on this loan is OA. 5.0% OB. 6.0% OC. 65% OD. 6.5%
If a lender makes a simple loan of $300 for 4 years and charges 8%, then the amount that the lender receive at maturity is $. (Round your response to the nearest two decimal place) If a lender makes a simple loan of $2000 for one year and charges $130 interest, then the simple interest rate on that loan is%. (Round your response to the nearest whole number) If a borrower must repay $106.50 one year from today in order to receive a simple loan of $100 today, the simple interest on this loan is OA. 5.0% OB. 6.0% OC. 65% OD. 6.5%
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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