The APR on a $100 loan, which you borrowed today and must repay in 6 months, is

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The APR on a $100 loan, which you borrowed today and must repay in 6 months, is 10%.

1. How much do you need to repay in 6 months?

2. What is the EAR of your loan with quarterly compounding?

Related Book For answer-question

Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Posted Date: May 24, 2023 09:49 AM

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The APR on a $100 loan, which you borrowed today and must repay in 6 months, is

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1 To calculate the repayment amount in 6 months we need to add the interest to the principal amount ... View the full answer

Contemporary Business Mathematics With Canadian Applications

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