Please calculate the APR for a loan with following condition: $30,000 loan with the interest rate...

 

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Please calculate the APR for a loan with following condition: $30,000 loan with the interest rate of 5% compounded annually and repayment period of 7 years. With the costs deducted at the time of taking the loan (present time) including: 2 points and loan originating fee of 100 dollars. Do not write "%" in your answer, write your answer like 1.23, 4.56, etc. Please calculate the APR for a loan with following condition: $30,000 loan with the interest rate of 5% compounded annually and repayment period of 7 years. With the costs deducted at the time of taking the loan (present time) including: 2 points and loan originating fee of 100 dollars. Do not write "%" in your answer, write your answer like 1.23, 4.56, etc.

Answer rating: 100% (QA)

To calculate the Annual Percentage Rate APR for the loan we need to consider the interest rate the l... View the full answer