Answer the following1 if you spent 2000 and got 0 interest, Ask an Expert

Finance

Answer the following:

1). If you spent $2,000 and got 0 interest for 12 months AND no payment options AND you decide not to make any payment for 12 months. The interest rate is 24%. How much interest will be added to the balance after 12 months?

2). Please show how this was calculated.

3). Also is there a formula that could be used to calculate in excel? If so could you please provide that as well?

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M93046082

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