A man took out a $43,000 construction loan to remodel a house. The loan interest rate is

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A man took out a $43,000 construction loan to remodel a house.

The loan interest rate is 8.3% per year simple interest for semi-annual repayment.

How much is refunded?

Related Book For answer-question

Principles of Finance

ISBN: 978-1285429649

6th edition

Authors: Scott Besley, Eugene F. Brigham

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Posted Date: Apr 06, 2023 11:58 PM

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A man took out a $43,000 construction loan to remodel a house. The loan interest rate is

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Solution The total amount refunded will be 43000 plus the interest accrued over the term of the loan ... View the full answer

Principles of Finance

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