Suppose you wish to borrow 1.2million for five weeks and the amount of interest you must pay

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Suppose you wish to borrow 1.2million for five weeks and the amount of interest you must pay is 50 per $ 2500 borrowed. What is the APR at which you are borrowing money?

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International Marketing And Export Management

ISBN: 9781292016924

8th Edition

Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr

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Posted Date: Mar 04, 2024 12:46 PM

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Suppose you wish to borrow 1.2million for five weeks and the amount of interest you must pay

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Answer To calculate the Annual Percentage Rate APR for borrowing money we need to consider the interest paid over the entire year relative to the amou... View the full answer

International Marketing And Export Management

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