Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. find the interest rates earned on each of the foll

Find the interest rates earned on each of the following. Round your answers to the...

60.1K

Verified Solution

Question

Finance

image

Find the interest rates earned on each of the following. Round your answers to the nearest whole number. a. You borrow $650 and promise to pay back $702 at the end of 1 year. % b. You lend $650, and the borrower promises to pay you $702 at the end of 1 year. % C. You borrow $64,000 and promise to pay back $101,560 at the end of 6 years. % d. You borrow $18,000 and promise to make payments of $4,390.00 at the end of each year for 5 years. %

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

1) Which of the following investments does require initial margin? A. buying a call option B. buying a...

Finance
Q

1. With an operating lease, the leased asset appears on the balance sheet of: neither the lessor...

Finance
Q

In the Focus Problem at the beginning of this chapter, a study was described comparing the...

Basic Math
Q

What is the socially optimal price for a regulated monopoly? How does the fair return price differ...

Economics
Q

Please refer 2 items as below from Microsoft’s Letter to Shareholders as below. And refer them...

Accounting
Q

The degree measure of an angle in a right triangle is x You are given...

Geometry
Q

If log5 3x 5 3 then what is the value of x O a 50...

Algebra
Q

6 Find the exact value of the following logarithmic expression In e

Algebra
Q

Lana Company purchased treasury shares with a cost of $40,000 during 2020. During the year,...

Accounting
Q

Apex Company manufactures and sells executive writing desks. The following information gathered by the companys...

Accounting
Q

Project A requires an original investment of $50,000. The project will yield cash flows of...

Accounting
Q

When determining cost of goods sold under LIFO, we start with the first price paid...

Accounting