Marty took a $5000 loan from a financial institute at a rate of 6%, which should be repaid in two equal installments of $2575.25 made every 4 months . How much more interest would have been paid , had Marty paid it in a single installment after 8 months? A . $75.25 B. $150.50 C. $200 D. $ E $49.50
Marty took a $5000 loan from a financial institute at a rate of 6%, which should be repaid in two equal installments of $2575.25 made every 4 months . How much more interest would have been paid , had Marty paid it in a single installment after 8 months? A . $75.25 B. $150.50 C. $200 D. $ E $49.50
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 15MC: Marathon Peanuts converts a $130,000 account payable into a short-term note payable, with an annual...
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Marty took a $5000 loan from a financial institute at a rate of 6%, which should be repaid in two equal installments of $2575.25 made every 4 months . How much more interest would have been paid , had Marty paid it in a single installment after 8 months?
A . $75.25
B. $150.50
C. $200
D. $
E $49.50
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