Maurice Tutor

(5)

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About Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 398 Weeks Ago, 6 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Computer Science Posted 28 Aug 2017 My Price 4.00

consulting business

A new engineering graduate who started a consulting business borrowed money for 1 year to furnish the office. The amount of the loan was $23,800, and it had an interest rate of 10% per year. However, because the new graduate had not built up a credit history, the bank made him buy loan-default insurance that cost 5% of the loan amount. In addition, the bank charged a loan setup fee of $300. What was the effective interest rate the engineer paid for the loan?

Answers

Maurice Tutor
(5)
Status NEW Posted 28 Aug 2017 03:08 PM My Price 4.00

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