1 joann gets a 65 1300 loan on october 25 2007 if joann, Ask an Expert

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1. JoAnn gets a 6.5% $1,300 loan on October 25, 2007. If JoAnn repays the money on April 18, 2008 (a leap year), how much interest does she owe? Assume the lender uses a 365-day year.

a $40.51

b $40.28

c $40.75

d $40.98

2. Tuition at a local college is currently $3,800 per year. If tuition rates are expected to increase at an annual rate of 4%, what will the annual tuition be 25 years from now?

a $10,130.18

b $4,855.59

c $16,685.30

d $24,382.34

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92832637

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