Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Find the interest rates earned on each of the following. Round your answers to the nearest whole number. a. You borrow $700 and promise to pay back $798 at the end of 1 year. 14 b. You lend $700, and the borrower promises to pay you $798 at the end of 1 year. % 14 c. You borrow $86,000 and promise to pay back $173,049 at the end of 12 years. % % d. You borrow $18,000 and promise to make payments of $4,390.00 at the end of each year for 5 years. %
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Transcribed Image Text:Find the interest rates earned on each of the following. Round your answers to the nearest whole number. a. You borrow $700 and promise to pay back $798 at the end of 1 year. 14 b. You lend $700, and the borrower promises to pay you $798 at the end of 1 year. % 14 c. You borrow $86,000 and promise to pay back $173,049 at the end of 12 years. % % d. You borrow $18,000 and promise to make payments of $4,390.00 at the end of each year for 5 years. %
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