You borrow $25,000 for 9 months at an annual interest rate of 10%. What is your interest expense?
The interest expense is computed as shown below:
= $ 25,000 x 0.10 x 9 / 12
= $ 1,875
Feel free to ask in case of any query relating to this question
You borrow $25,000 for 9 months at an annual interest rate of 10%. What is your...
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