Question: Consider a loan for $ 1 4 9 , 6 7 5 that is paid off in 1 5 yearly payments of $ 1 2

Consider a loan for $149,675 that is paid off in 15 yearly payments of $12,000.
Part 1
Attempt 33 for 1 pts.
What is the interest rate?
 Consider a loan for $149,675 that is paid off in 15

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!