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samualson samualson
wrote...
Posts: 2459
6 years ago
Assume that Montana Mining, Inc. borrows $5,000,000 for 120 days. The total interest paid is $150,000. What is the APY, or Effective Annual Rate of interest that Billings pays?
A) 3.00%
B) 9.00%
C) 9.27%
D) 9.77%
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wrote...
6 years ago
 C
 
samualson Author
wrote...
6 years ago
Exactly what I needed for my quiz Smiling Face with Open Mouth
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