Talmud Book Company borrows $24,900 for 60 days at 12 percent interest. What is the dollar...

Question

Question

Talmud Book Company borrows $24,900 for 60 days at 12 percent interest.

What is the dollar cost of the loan? (Use a 360-day year. Do not round intermediate calculations.)

Cost of loan

$

business finance

Answer 1

Answer #1

Cost of loan 24900*12%*60/360 Cost of loan $498.00

Answer 2

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