Your bank will lend you $3,000 for 50 days at a cost of $45 interest. What is

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Your bank will lend you $3,000 for 50 days at a cost of $45 interest. What is your annual rate of interest? What is your effective annual rate?

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Foundations of Financial Management

ISBN: 978-1259024979

10th Canadian edition

Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta

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Question Posted: Sep 15, 2018 08:44 AM

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Your bank will lend you $3,000 for 50 days at a cost of $45 interest. What is

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Foundations of Financial Management

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