Cull Incorporated recently borrowed $250,000 from Century Bank when the prime rate was 4%. The loan was for 90 days with interest to be paid at the end of the period with a rate fixed at 1.5% above the prime rate. What is the total interest paid on this loan and what is the effective annual rate? (Assume a 365 day year.)
A) The total interest paid is $3390.41 and the effective annual rate is 5.62%.
B) The total interest paid is $13,750 and the effective annual rate is 5.62%.
C) The total interest paid is $13,750 and the effective annual rate is 5.55%.
D) The total interest paid is $3390.41 and the effective annual rate is 1.36%.
A) The total interest paid is $3390.41 and the effective annual rate is 5.62%.
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Collectively, the people, technologies, and procedures aimed at supplying an organization's marketing information needs are called
A. a marketing information system. B. an information capture system. C. a data warehouse. D. a marketing database. E. a data support system.
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a. a fixed-term tenancy. b. a license. c. an easement. d. a profit.
What is a typical investment range for angel investors?
a. less than $5,000 b. Less than$20,000 c. between $25,000 and $100,000 d. between $75,000 and $150,000