You just took out a variable interest rate consumer loan set 3 present over time. After 1

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You just took out a variable interest rate consumer loan set 3 present over time. After 1 year, your rate jumps to 4 percent over prime. Treasury bills are currently paying 2 percent. What is the new interest rate on you consumer loan?

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Personal Finance Turning Money into Wealth

ISBN: 978-0134730363

8th edition

Authors: Arthur J. Keown

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Posted Date: Dec 13, 2018 02:20 AM

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You just took out a variable interest rate consumer loan set 3 present over time. After 1

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Interest is additional return to the lender on loan provided to borrow The borrower pays the interes... View the full answer

Personal Finance Turning Money into Wealth

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