A friend loans you $300 and asks you to pay them back $325 in 6 months. What

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A friend loans you $300 and asks you to pay them back $325 in 6 months. What annual interest rate are they charging you?

Your parents have a collage saving account which earns 7% interest, compounded monthly. If you need to withdraw $2000 every month for 4 years to pay for college, how much will they need to have saved when you start college?

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Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: May 13, 2024 02:16 PM

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A friend loans you $300 and asks you to pay them back $325 in 6 months. What

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Answer For the loan from your friend the annual interest rate can be calculated using the formula fo... View the full answer

Principles of Finance

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