Multiple Choice
Mr. Jones borrows $4,500 for 90 days and pays $75 interest. What is his effective rate of interest?
A) 9.3%
B) 6.7%
C) 11.7%
D) None of these
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q34: Commercial paper is very popular with many
Q35: Leontief's Wigs can borrow from its bank
Q37: Business Book Publishing needs to borrow $800,000
Q40: Commercial paper has which of the following
Q41: The prime rate<br>A) is the rate a
Q42: Match the following with the items below:<br>
Q43: Match the following with the items below:
Q45: Brand Advertising is offered a 3/10, net
Q51: Firms using commercial paper are generally required
Q117: Small companies finance a relatively greater proportion