2. Angel borrowed 120, 000 from joseph. If Angela agreed to pay an 8% annual interest rate, calculatae the amount of interest she must pay if the loan period is: (a) one year (b) 9 months (c) 18 months
2. Angel borrowed 120, 000 from joseph. If Angela agreed to pay an 8% annual interest rate, calculatae the amount of interest she must pay if the loan period is: (a) one year (b) 9 months (c) 18 months
Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 11E
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Solve the following problem with full solution and without using excel.
Transcribed Image Text:2. Angel borrowed 120, 000 from
joseph. If Angela agreed to pay an 8%
annual interest rate, calculatae the
amount of interest she must pay if the
loan period is:
(а) one year
(b) 9 months
(с) 18
months
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