You just bought a fancy TV on credit for $5,000 and the terms of the loan are:

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You just bought a fancy TV on credit for $5,000 and the terms of the loan are: 74year loan for with monthly (end of the month) payments of $197.89

calculate What is the Effective Annual interest Rate (EAR) of this loan?

Related Book For answer-question

Corporate Finance Core Principles and Applications

ISBN: 978-0077905200

3rd edition

Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford

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Posted Date: Apr 07, 2023 02:21 AM

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You just bought a fancy TV on credit for $5,000 and the terms of the loan are:

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To calculate the Effective Annual Interest Rate EAR of the loan we need to first ... View the full answer

Corporate Finance Core Principles and Applications

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