If this loan had been made on a 10% add-on basis, payable in 12 end-of-month installments, what

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If this loan had been made on a 10% add-on basis, payable in 12 end-of-month installments, what would be the monthly payment amount? ($45,833.33) What is the annual percentage rate?

(17.97%) The effective annual rate?

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Intermediate Financial Management

ISBN: 9781337395083

13th Edition

Authors: Eugene F. Brigham, Phillip R. Daves

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Question Posted: Mar 10, 2024 12:01 AM

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If this loan had been made on a 10% add-on basis, payable in 12 end-of-month installments, what

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Intermediate Financial Management

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