If a loan of $10,000 is paid back in equal annual end-of-year payments of $2,570.69 during the next five years, what is the annual interest rate on the loan?
A) 2%
B) 5%
C) 9%
D) 12%
Answer: C
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When par value stock is issued at a price above par, the amount above par is called the
a. discount; b. market value; c. stated value; d. premium; e. dividend.
Operating leverage is
A) concerned with the relative mix of fixed costs and variable costs in the organization B) the use of fixed costs to extract higher percentage changes in profits as sales activity changes C) likely to be higher in an automated manufacturing system than in a manual system D) all of these E) none of these
The subject of contracts is governed by ____________________ law
Fill in the blank(s) with correct word
Frank applies to GuardDog Insurance Company for homeowners' insurance. The company issues a policy, but later discovers that Frank's application includes several misstatements. Most likely, these misstatements can A) affect the coverage under the policy but cannot void the policy
B) bind Frank but cannot affect the coverage. C) not bind Frank or affect the policy. D) void the policy.