Mrs. B borrowed $130,000 to buy a house. Her loan cost was12% and she promised to pay

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Mrs. B borrowed $130,000 to buy a house. Her loan cost was12% and she promised to pay the loan in 24 annual equal payments. What is annual payment Mrs. B has to pay for the loan? And what is effective annual rate for the loan?

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College Physics

ISBN: 978-0321601834

7th edition

Authors: Jerry D. Wilson, Anthony J. Buffa, Bo Lou

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Posted Date: Oct 26, 2022 09:20 AM

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Mrs. B borrowed $130,000 to buy a house. Her loan cost was12% and she promised to pay

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annual payment principal x interest 1 1interestn annual p... View the full answer

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