If you buy an item for $95 with the agreement to pay $100 in 90 days what is the effective annual rate on this transaction?

1 answer

P = Po + Po*r*t.

t = 90days/360days = 0.25 yrs.

100 = 95 + 95*r*0.25. r = ?.
Similar Questions
    1. answers icon 1 answer
  1. Media Literacy Unit TestCOURSE OUTLINE Which of the following is the purpose of commercials? (1 point) COURSE TOOLS • to
    1. answers icon 1 answer
  2. Examine the picture.Item 3 Item 4 Item 5 Item 6 Item 7 Item 8 Item 9 Item 10 1 58°F Which of the following does this cave
    1. answers icon 1 answer
    1. answers icon 1 answer
more similar questions