The rate is prime plus 2 percent the prime rate was 85, Finance Basics

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The rate is prime plus 2 percent the prime rate was 85

XYZ Corporation borrowed $100,000 for six months from the bank. The rate is prime plus 2 percent. The prime rate was 8.5 percent at the beginning of the loan and changed to 9 percent after two months. This was the only change. How much interest must XYZ corporation pay?

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Finance Basics: The rate is prime plus 2 percent the prime rate was 85

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Finance Basics: The rate is prime plus 2 percent the prime rate was 85

Reference No:- TGS0599017

Have a Question? (oR Write a Review)

Recent Questions Asked Finance Basics

Q : An object is 120 cm to the left of a thin diverging lens

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Q : A member of the volleyball team spikes the ball during this

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Request for Solution File

Ask an Expert for Answer!!

Finance Basics: The rate is prime plus 2 percent the prime rate was 85

Reference No:- TGS0599017

Recent Questions Asked Finance Basics

Q : An object is 120 cm to the left of a thin diverging lens

Q : What are your views of the soul and death and how are they

Q : A member of the volleyball team spikes the ball during this

Q : A500g particle has velocity vx -50ms at t -2s force fx

Q : The rate is prime plus 2 percent the prime rate was 85

Q : An inductor is connected to a source of sinusoidally

Q : Treasury bills are currently paying 6 percent and the

Q : The bond pays a 7 percent coupon has a ytm of 5 percent and

Q : Shows an electric-circuit which is called a phase-lag

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