Question Find the annual simple discount rate equivalent to an annual simple interest rate of 3.9% over a term of 3 years. Round your answer to the nearest tenth of a percent. Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
Question Find the annual simple interest rate equivalent to an annual simple discount rate of 3.9% over a term of 9 years. Round your answer to the nearest tenth of a percent. Looking for a Similar Assignment? Order now and Get 10% Discount! Use Coupon Code “Newclient”
Question Suppose Katy borrowed some amount of money for 44 weeks and Anastasia borrowed the same amount. Katy’s loan used the simple interest model with an annual rate of 4.7% while Anastasia’s loan used the simple discount model with an annual discount of 8.2%. At the end of their respective terms, Katy’s maturity value was $5250 while Anastasia’s was $6020. How many weeks was Anastasia’s loan for? Round your answer […]
Question Suppose Fred borrowed $5540 for 20 months and Joanna borrowed $4969.Fred’s loan used the simple discount model with an annual rate of 7.3% while Joanne’s loan used the simple interest model with an annual rate of 2.9%. If their maturity values were the same, how many months was Joanne’s loan for? Round your answer […]
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