Annual interest rate did you charge on financing of sale

Assignment Help Financial Management

Reference no: EM132061775

1. The U.S. Government uses money markets because ____.

tax revenues exceed spending

spending equals tax revenues

spending exceeds tax revenues

2. You recently sold a small business which you owned. You agreed to a sales price of $32,500, to be paid in monthly payments of $1,000 each for 36 months. What annual interest rate did you charge on the financing of the sale?

a) 3.60 percent

b) 3.69 percent

c) 5.00 percent

d) 6.33 percent

e) 6.76 percent

Reference no: EM132061775

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