2. Find the simple interest rate for a loan where $500 is borrowed and the amount...
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2. Find the simple interest rate for a loan where $500 is borrowed and the amount owed after 8 months is $600. This is a simple interest problem where you are solving for the simple interest rate or r. You can use Equation and solve for r. If I = Prt, 2. Find the simple interest rate for a loan where $500 is borrowed and the amount owed after 8 months is $600. This is a simple interest problem where you are solving for the simple interest rate or r. You can use Equation and solve for r. If I = Prt,
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The fixed interest rate of 8 would typically be calculated based on the construction costs o... View the full answer
Related Book For
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher
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