Posted by **David** on Friday, July 3, 2009 at 10:29pm.

1. Mr. Kane recently borrowed $15,000 from his Aunt Jemima, and he has promised to pay his aunt $5,000 per year at 15%. How long will it take Mr. Kane to pay off the entire loan from his aunt?

2. You just borrowed $1,000 from Mr. Loan Shark. Mr. Shark requires you to pay $150 per week for the next 10 weeks. What is the effective annual interest rate on this loan?

## Answer This Question

## Related Questions

- Finance - . Mr. Kane recently borrowed $15,000 from his Aunt Jemima, and he has ...
- Finance - You just borrowed $15,000 from a bank. If you pay $4,000 at the end of...
- Math - Angela's aunt put aside $15,000 for her MBA graduation present on March ...
- math - Suppose the U.S. federal debt was $9,400,000,000,000. Let's say that the ...
- finance - You may to invest in a coffee plantation in South Australia. The ...
- business finance - Lisa Kane borrowed $8,000 on an 8%, 60-day note. After 15 ...
- Cost accounting - each bill 1500 hours per year and receive pay of $100,000 each...
- Financial Management - Lansing Inc. has decided to expand. During the last year...
- Finance - Need help finding a formula for: Question: Suppose a bank offers you ...
- corporate finance - you are thinking of retiring. your retirement plan will pay ...

More Related Questions