Dorothy borrows 10,000 from the bank. For a four-year loan, the bank requires annual end-of-year ...

Author Question: Dorothy borrows 10,000 from the bank. For a four-year loan, the bank requires annual end-of-year ... (Read 115 times)

burchfield96

Hero Member
Posts: 610

on: Jul 10, 2018

Dorothy borrows 10,000 from the bank. For a four-year loan, the bank requires annual end-of-year payments of 3,223.73. The annual interest rate on the loan is ________.

A) 9 percent
B) 10 percent
C) 11 percent
D) 12 percent

Question 2

One weakness of payback period approach is its failure to recognize cash flows that occur after the payback period.

Indicate whether the statement is true or false

Missbam101

Sr. Member
Posts: 341

Reply #1 on: Jul 10, 2018

Answer to Question 1

C

Answer to Question 2

TRUE

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burchfield96

Hero Member
Posts: 610

Reply #2 on: Jul 10, 2018

Thank you

Missbam101

Sr. Member
Posts: 341

Reply #3 on: Jul 10, 2018

No problemo

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