The author posted a question in Business, Finance
Determine the amount to be repaid and the lender's interest income? and got a better answer
Response from Антон Владимирович[+++++]
Simple interest S=P* 1+i*n 1.Return=406* 1+0.19*30*8/360= 2. Lender's interest income=Pr 1-406=?
Response from 0[+++++]
Simple interest S=P* 1+i*n 1.Payback=406* 1+0.19*30*8/360= 2. Lender's interest income=Pr 1-406= -
Simple interest S=P* 1+i*n 1.Payback=406* 1+0.19*30*8/360= 2. Lender's interest income=Pr 1-406= -