Jimmy has a credit rating of 340 and Sarah has a credit rating of 550. Sarah receives an offer of 6.2% for the interest on a loan. Jimmy has to pay an extra 3.4%. How much is Jimmy's interest? a) 6.2% b) 3.4% 2.8% d) 9.6%

Jimmy has a credit rating of 340 and Sarah has a credit rating of 550. Sarah receives an offer of 6.2% for the interest on a loan. Jimmy has to pay an extra 3.4%. How much is Jimmy's interest? a) 6.2% b) 3.4% 2.8% d) 9.6%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

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a) 6.2%
b) 3.4%
C 2.8%
d) 9.6%
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1. Jimmy has a credit rating of 340 and Sarah has a credit rating of 550. Sarah receives an
offer of 6.2% for the interest on a loan. Jimmy has to pay an extra 3.4%. How much is
Jimmy's interest?
$350.000. He is
Glaze C
. 1 cup

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