A business borrows 1000 giving a note that requires an, Ask an Expert

Finance

A business borrows $1,000, giving a note that requires an interest rate of 12 percent per year and repayment of principal plus interest in a single payment at the end of one year.

Calculate the total interest on the note. What is the amount of the single payment?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92096342

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