Effective Annual Rate Assignment

Our professional writers will address all you homework
requirements and provide a quality paper with guarantees of 100% plagiarism free.
We provide 24/7 customer Support.

Order Research Paper In a Few Clicks



Get my paper done

By clicking “Get my paper done”, you agree to our terms of service and privacy policy. We’ll occasionally send you promo and account related emails.

Effective Annual Rate Assignment

The Ohio Valley Steel Corporation has borrowed $5.8 million for one month at a stated annual rate of 9.1%​, using inventory stored in a field warehouse as collateral. The warehouser charges a $5,250​fee, payable at the end of the month. What is the effective annual rate of this​ loan? The effective annual rate is _____​%.​(Round to two decimal​places.) Get Finance homework help today

The Ohio Valley Steel Corporation has borrowed $5.8 million for one month at a stated annual rate of 9.1%​, using inventory stored in a field warehouse as collateral. The warehouser charges a $5,250​fee, payable at the end of the month. What is the effective annual rate of this​ loan?
The effective annual rate is _____​%.​(Round to two decimal​places.) Get Finance homework help today