Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Finance (https://www.askmehelpdesk.com/forumdisplay.php?f=125)
-   -   Finance - effective rae of interest (https://www.askmehelpdesk.com/showthread.php?t=103481)

  • Jun 22, 2007, 01:31 PM
    angiep
    Finance - effective rae of interest
    Mr. Jones borrows $2,000 for 90 days and pays $35 interest. What is his effective rate of interest?

    The answer I got was $7.0%... is that correct?:confused:
  • Jun 22, 2007, 02:11 PM
    CaptainForest
    You mean 7%?

    Yes that is correct.

    • All times are GMT -7. The time now is 07:15 PM.