Description of this paper

Johnson Inc borrowed $500,000 at a rate of 10%, simple interest,

Description

solution


Question

Johnson Inc borrowed $500,000 at a rate of 10%, simple interest, with monthly interest payments. Based on a 365-day year, what would Johnson's required interest payment be for a 30-day month?

 

Paper#32086 | Written in 18-Jul-2015

Price : $22
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