Picabo Street borrows $1000. Torepay the amount she makes 12 equal monthly payments of $90.30. Determine the
Question:
Picabo Street borrows $1000. Torepay the amount she makes 12 equal monthly payments of $90.30. Determine the following:
(a) The effective monthly interest rate
(b) The nominal annual interest rate
(c) The effective annual interest rate
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a P 1000 A 9030 i m 12 months 1000 9...View the full answer
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