6. You need $42,341 to purchase your dream car, but only have $20,811 today. If you want...

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6. You need $42,341 to purchase your dream car, but only have $20,811 today. If you want to be able to purchase the car in 7 years, what will the annual interest rate have to be?

7. If a local lender charges interest of 2.7% per quarter, what is the effective annual rate (EAR)?

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

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Posted Date: Apr 17, 2024 07:38 AM

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6. You need $42,341 to purchase your dream car, but only have $20,811 today. If you want...

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Microeconomics An Intuitive Approach with Calculus

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