How can the formula interest = principle * rate * time be used to estimate the cost

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How can the formula “interest = principle * rate * time” be used to estimate the cost of short- term credit?

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Foundations of Finance The Logic and Practice of Financial Management

ISBN: 978-0132994873

8th edition

Authors: Arthur J. Keown, John D. Martin, J. William Petty

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Question Posted: Sep 11, 2015 07:33 AM

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How can the formula interest = principle * rate * time be used to estimate the cost

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The procedure used in estimating the cost of shortterm credit relies on the use of the basic in...View the full answer

Foundations of Finance The Logic and Practice of Financial Management

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