Mary Ott is going to borrow $9,700 for 180 days and pay $176 interest. What is the effective rate of interest if the loan is discounted? Note: Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places. Effective rate on a discounted loan I
Mary Ott is going to borrow $9,700 for 180 days and pay $176 interest. What is the effective rate of interest if the loan is discounted? Note: Use a 360-day year. Do not round intermediate calculations. Input your answer as a percent rounded to 2 decimal places. Effective rate on a discounted loan I
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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