You take out a $7,600 car loan that requires 60 monthly payments of $200 each. A. What
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Question:
You take out a $7,600 car loan that requires 60 monthly payments of $200 each. |
A. | What is the APR of the loan? (Do not round up intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places. Use a financial calculator or Excel.) |
Nisan | % |
B. | What is the effective annual interest rate of the loan? (Do not round up intermediate calculations. Enter your answer as a percentage, rounded to 2 decimal places.) |
EAR | % |
Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0078034640
7th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
Posted Date: