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You want to get a credit worth $10,000 to buy a new camera for your job. A dollar today is worth 10 TL, and the foreign exchange rate is expected to increase by 10%. The bank offers a 10% interest rate for $ credits and a 20% interest rate for TL credits. What is the equivalent of $ credit interest rate in TL, and which credit you should choose? You want to get a credit worth $10,000 to buy a new camera for your job. A dollar today is worth 10 TL, and the foreign exchange rate is expected to increase by 10%. The bank offers a 10% interest rate for $ credits and a 20% interest rate for TL credits. What is the equivalent of $ credit interest rate in TL, and which credit you should choose?
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SOLUTION To compare the costs of taking out a credit versus a TL credit we need to convert the credi... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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