Multiple Choice
Midwest,Inc.has just borrowed $100,000 to purchase a new piece of equipment.The contract calls for 10 semiannual payments of $12,637.88,beginning six months from today.The annual interest rate Southland is paying equals:
A) 9%
B) 12%
C) 10%
D) cannot be determined from the information given
Correct Answer:
Verified
Correct Answer:
Verified
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