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Category > Business & Finance Posted 31 May 2017 My Price 8.00

1. Explain the difference between

1. Explain the difference between exact interest and ordinary or banker's interest. 2. You are going to borrow $71,500.00 for 72 days. You are to be loaned the money at an interest rate of 9%, and you are given the option to choose exact or ordinary interest. Which would you choose & why? 3. If interest is compounded monthly at 10% per year for 13 years, explain how to find the number of compounding periods and the interest rate per compounding period. 4. Explain how to use the APR Table to determine the true APR. 5. Does a person who receives a 2% pay raise in a year in which inflation runs 5% experience a net gain or loss in purchasing power (ignoring taxes)? Explain

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Status NEW Posted 31 May 2017 06:05 AM My Price 8.00

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