Multiple Choice
Atlas Tire Irons,Inc.is considering borrowing $5,000 for a 3 month period.The firm will repay the $5,000 principal amount plus $150 in interest.What is the annual percentage rate (APR) rate of interest (use a 360-day year) ?
A) 3%
B) 12%
C) 15%
D) 18%
Correct Answer:
Verified
Correct Answer:
Verified
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