Barney casey borrowed 40000 from his parents for 2 years he


Barney Casey borrowed $40,000 from his parents for 2 years. He paid them a total of $45,000 at the end of the 2-year term of the simple interest loan. What rate of interest did he pay his parents? Im coming up with 118.66?

Solution Preview :

Prepared by a verified Expert
Finance Basics: Barney casey borrowed 40000 from his parents for 2 years he
Reference No:- TGS02420405

Now Priced at $10 (50% Discount)

Recommended (93%)

Rated (4.5/5)