Suppose Jake borrows $4,000 for a new piece of equipment. He borrows the money for 2 years
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Suppose Jake borrows $4,000 for a new piece of equipment. He borrows the money for 2 years at 11.5% interest. How much does he pay in interest, and whats the total amount he has to repay? 2.Auntie Em took out a loan for a new television set 2 years ago and agreed to pay $121.88 each month for 5 years at 121 2% interest. How much did the TV cost (before interest is added in)?
3. Say Abigail is borrowing $6,000 for 3 months at 8% simple interest. How much does she repay at the end of 3 months?
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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