Michelle is offered a loan of $29,000 that requires 60 monthly payments of $588.02. What is the
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Michelle is offered a loan of $29,000 that requires 60 monthly payments of $588.02. What is the effective annual interest rate on this loan? What would the quoted rate be?
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The 60 monthly payments form an annuity whose present value is 29000Finding ...View the full answer
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Related Book For
Introduction To Corporate Finance
ISBN: 9781118300763
3rd Edition
Authors: Laurence Booth, Sean Cleary
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