Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $135,000 % 2 years $25,650
Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal Rate (%) Time Interest $135,000 % 2 years $25,650
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days.
Principal | Rate (%) | Time | Interest |
---|---|---|---|
$135,000 | % | 2 years | $25,650 |
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