Multiple Choice
If $5,000 is borrowed on a discount basis and the rate is 10 percent, the annual percentage interest rate on this loan would be
A) 10 percent.
B) 10.1 percent.
C) 11 percent.
D) 11.1 percent.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q93: The main provisions of the Monetary Control
Q94: Commercial banks provide loans directly to consumers
Q95: The prime rate of interest has been
Q96: The Federal Savings and Loan Insurance Corporation
Q97: In 1989, the Financial Institution Reform, Recovery
Q99: Investment companies sell shares in their firms
Q100: Percent annual rate on a standard loan.<br>A)
Q101: The principal assets of all depository institutions
Q102: An organization that sells or markets new
Q103: Depository institutions accept deposits or savings from