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Home Q & A Board Other Fields Homework Help Business Accounting
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Kwami Kwami
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7 years ago
Oak, Inc. received $4,500 as the loan proceeds on a $5,000, 10% note due one year from today. What is the effective interest rate?
A) 10.00%
B) 11.50%
C) 11.00%
D) 11.11%
Textbook 
Survey of Accounting: Making Sense of Business

Survey of Accounting: Making Sense of Business


Edition: 1st
Author:
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suryoyosuryoyo
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#1
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7 years ago
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Kwami Author
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#2
7 years ago
Aha, makes more sense now.
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#3
7 years ago
Alright!
Thumbs up me, please!
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