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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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PLEASE USA BA II WHEN POSSIBLE.
A construction company takes a loan of
$1,732,000
to cover the cost of a new grader. If the interest rate is
8.55%
APR, and payments are made monthly for five years, what percentage of the outstanding principal does the company pay in interest each month?0.71%
0.66%
7.13%
0.81%
0.76%
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