Lucy borrowed $10,000 from ABC Bank on 05/25/2018 at 6% simple interest rate and agree to repay

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Lucy borrowed $10,000 from ABC Bank on 05/25/2018 at 6% simple interest rate and agree to repay the loan on 11/09/2018. What is the amount of Brad’s required payment using:

(a) the exact simple interest method

(b) the ordinary simple interest method

Related Book For answer-question

Fundamentals of Corporate Finance

ISBN: 978-0077861629

8th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Posted Date: Feb 11, 2024 11:26 PM

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Lucy borrowed $10,000 from ABC Bank on 05/25/2018 at 6% simple interest rate and agree to repay

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To calculate the amount of Brads required payment using different methods well use the given informa... View the full answer

Fundamentals of Corporate Finance

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