Question: Calculating Annuity Present Values You want to borrow $ 3 2 , 0 0 0 . 0 0 from your local bank to buy a

Calculating Annuity Present Values
You want to borrow $32,000.00 from your local bank to buy a new sailboat. You can afford to make monthly payments of $550.00, but no more. Assuming monthly compounding, what is the highest APR you can afford on a 72 month loan?
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Calculating Annuity Present Values You want to borrow $32,000.00 from your

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