Talmud book company borrows 21500 for 30 days at 15 percent, Financial Management

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Talmud book company borrows 21500 for 30 days at 15 percent

1. Talmud Book Company borrows $21,500 for 30 days at 15 percent interest. What is the dollar cost of the loan? (Use a 360-day year. Do not round intermediate calculations and round your final answer to 2 decimal places.)

2. A CD deposit has a balance of $5,000 compounded semi-annually with an annual interest rate of 5.8%, what is the effective annual yield on this deposit after one year?

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Financial Management: Talmud book company borrows 21500 for 30 days at 15 percent

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Financial Management: Talmud book company borrows 21500 for 30 days at 15 percent

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