Question: Note: You may refer to Table 7.2 The Serial Numbers for Each Day of the Year (Hummelbrunner et al., 2021, p. 269270 ) for this


Note: You may refer to Table 7.2 "The Serial Numbers for Each Day of the Year" (Hummelbrunner et al., 2021, p. 269270 ) for this question. (a) What is the interest rate paid if the interest on loan of $4500 is $148.93 from November 14, 2023, April 14, 2024? (b) A loan of $4210 is to be repaid by three equal payments due in 90 days, 185 days, and 320 days. Determine the amount of equal payments at 8.25% p.a. with a focal date of today. Note: For leap years, *February 29 becomes day number 60 and the serial number for each subsequent day in the table increases by 1 . Copyright (c) 2021 Pearson Canada Inc. Note: You may refer to Table 7.2 "The Serial Numbers for Each Day of the Year" (Hummelbrunner et al., 2021, p. 269270 ) for this question. (a) What is the interest rate paid if the interest on loan of $4500 is $148.93 from November 14, 2023, April 14, 2024? (b) A loan of $4210 is to be repaid by three equal payments due in 90 days, 185 days, and 320 days. Determine the amount of equal payments at 8.25% p.a. with a focal date of today. Note: For leap years, *February 29 becomes day number 60 and the serial number for each subsequent day in the table increases by 1 . Copyright (c) 2021 Pearson Canada Inc
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