|
Title: You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of ... Post by: bigexternal on Jan 13, 2017 You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of $444.89 each to begin one month from today. If the interest is compounded monthly, then what is the effective annual rate on this loan?
A) 12.68% B) 14.12% C) 12.00% D) 13.25% E) 15.08% Title: Re: You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly ... Post by: Blimp on Jan 18, 2017 Content hidden
Title: Re: You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of ... Post by: bigexternal on Mar 22, 2017 Really appreciate the effort, thank you for responding
|