You borrow $10,000 from a bank for three years at an annual interest rate, or annual percentage
Question:
a. What is your monthly payment?
b. If you must pay two points up front, meaning that you get only $9,800 from the bank, what is your true APR on the loan?
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a A 10000 AP 1 per month 36 months ...View the full answer
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Related Book For 
Engineering Economy
ISBN: 978-0132554909
15th edition
Authors: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
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