You have borrowed $1434 from your parents. You will pay them back what your borrowed plus $429 in 2 years. What is the implied interest rate? Answer as a percent. Enter only numbers and decimals in your response. Round to 2 decimal places. 

-You are buying a car and will borrow $35621 with a 5-year loan. The interest rate is 3.03%, what is your monthly payment? Enter only numbers and decimals in your response. Round to 2 decimal places.

Answer rating: 100% (QA)

Implied Interest Rate Calculation To calculate the implied interest rate we can use the formula Impl... View the full answer