Cindy earned a 10 percent increase in her salary and received the entire increase at the beginning of the year, with the stipulation that she would not leave the company in that year. five months later, she quit her job and went to work for a competitor. she had to return the 10 percent payment she had received because she had violated a rule for

You are looking at a one-year loan of $16,500. the interest rate is quoted as 8.7 percent plus two points. a point on a loan is 1 percent (one percentage point) of the loan amount. quotes similar to this one are common with home mortgages. the interest rate quotation in this example requires the borrower to pay two points to the lender up front and repay the loan later with 8.7 percent interest. what rate would you actually be paying here?