You want to borrow $96,000 from your local bank to buy a new sailboat. You can afford
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You want to borrow $96,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,950, but no more. Assuming monthly compounding, what is the highest APR you can afford on a 60-month loan?
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Related Book For
Corporate Finance
ISBN: 978-0077861759
11th edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford Jordan
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