Your bank will lend you $4,000 for 45 days at a cost of $50 interest. What is

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Your bank will lend you $4,000 for 45 days at a cost of $50 interest. What is your effective rate of interest?

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Foundations of Financial Management

ISBN: 978-1259194078

15th edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen

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Question Posted: Oct 14, 2014 07:23 AM

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Your bank will lend you $4,000 for 45 days at a cost of $50 interest. What is

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Foundations of Financial Management

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