Problem 2-17 Margin Interest (LO3, CFA2) Suppose you take out a margin loan for $75,000. The rate you pay is an effective rate of 8.9 percent. If you repay the loan in six months, or 180 days, how much interest will you pay? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Interest S 3,266.37

Problem 2-17 Margin Interest (LO3, CFA2) Suppose you take out a margin loan for $75,000. The rate you pay is an effective rate of 8.9 percent. If you repay the loan in six months, or 180 days, how much interest will you pay? Note: Do not round intermediate calculations. Round your answer to 2 decimal places. Interest S 3,266.37

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 4FPE

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