Question: You are considering a $30,000 (add-on) installment loan. The stated rate of interest is 7%, and eight monthly payments will be made. - Find the

You are considering a $30,000 (add-on) installment loan. The stated rate

You are considering a $30,000 (add-on) installment loan. The stated rate of interest is 7%, and eight monthly payments will be made. - Find the loan amount - Find the amount of interest. - Find the payment. - Find the annual percentage rate (APR) for this installment loan. - Find the effective annual rate (EAR) for this installment loan

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