Question
Loan Amount: $15,000
Method of payment: discount basis
Amount of Interest : $650
Term of loan: 1 year
Effective Rate of Interest (to the nearest tenth): %
Method of payment: discount basis
Amount of Interest : $650
Term of loan: 1 year
Effective Rate of Interest (to the nearest tenth): %
Answers
Ms. Sue
100(650/15,000) = ?