Multiple Choice
Assuming you were charged simple interest on a loan of $4,900 which requires you to repay in one year $5,292, what rate of interest would you be charged? (Round interest rate to the nearest hundredth percent if necessary.)
A) 9.26%
B) 8%
C) 7.41%
D) 11%
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q67: Bill borrowed $3,600 and will be charged
Q68: Of the three methods by which finance
Q69: Credit Card companies have no requirement to
Q70: Which of the following is not correct
Q71: One disadvantage of a proprietary credit card
Q73: Finance charges apply only to balances that
Q74: Creditors are willing to extend credit when
Q75: John is considering pursuing one of two
Q76: To properly manage your money, you should
Q77: MasterCard, Visa, and American Express credit cards