Multiple Choice
Gretchen Enterprises borrowed $149,500 for two years from the bank. At the end of the two years, they repaid the loan with one payment of $176,590. What was the interest rate on the loan?
A) 8.68%
B) 9.06%
C) 10.00%
D) 10.42%
E) 18.12%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q65: The future value of a single sum
Q66: An account was opened with $1,000 ten
Q67: Many financial calculators require that:<br>A) The interest
Q68: You would like to invest some money
Q69: Provide a definition of discount.
Q71: Explain intuitively why it is that present
Q72: Sun Lee has $500 today. Which one
Q73: Provide a definition of interest on interest.
Q74: You own a classic automobile that is
Q75: Your goal is to build your first