Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal: 24,000 Rate (%): Time:60 days Interest: $384
Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days. Principal: 24,000 Rate (%): Time:60 days Interest: $384
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 21MC: A customer takes out a loan of $130,000 on January 1, with a maturity date of 36 months, and an...
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Compute the rate (in %) for the loan. Round answers to the nearest tenth of a percent; use ordinary interest when time is stated in days.
Principal: 24,000
Rate (%):
Time:60 days
Interest: $384
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