Suppose you have borrowed $50 from a foreign lending institution. The loan requires a payment of 6 daily installments of $10. What is the expected annualized interest?  450 480 No choice given 350  380

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter19: Lease And Intermediate-term Financing
Section: Chapter Questions
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Suppose you have borrowed $50 from a foreign lending institution. The loan requires a payment of 6 daily installments of $10. What is the expected annualized interest? 

450

480

No choice given

350 

380 

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