Question: Part 5: Solve for i -- Show your work Find the APR on a $165,000 loan which is amortized over 30 years with a monthly

Part 5: Solve for i -- Show your work Find the

Part 5: Solve for i -- Show your work Find the APR on a $165,000 loan which is amortized over 30 years with a monthly payment of $1,042.91. Round to the nearest 10th of a percent. Note: i represents the rate per period (which in this case is monthly). However, since an annual rate is called the monthly rate must be converted to the equivalent annual rate. N= i= i/y= Rounded: PV= PMT= FV=

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