Question: Use Table 12-1 to find the APR on a loan of $3,000 for three years if the loan had $810 interest and was repaid monthly.

Use Table 12-1 to find the APR on a loan of $3,000 for three years if the loan had $810 interest and was repaid monthly.

Step by Step Solution

★★★★★

3.42 Rating (161 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Table value 810 3000 100 27 M... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

724-B-F-F-M (2830).docx

120 KBs Word File

Students Have Also Explored These Related Finance Questions!

Q:

Use Table 13 - 1 to find the compound interest on a loan of $3,000 for one year at 12% annual interest if the interest is compounded quarterly?

Q:

To ensure that funds are available to repay the principal at maturity, a borrower deposits $2000 each year for three years. If interest is 6% compounded quarterly, how much will the borrower have on...

Q:

Find the annual percentage rate on a loan of $3,820 if the monthly payment is $130 for 36 months,

Q:

Your bank pays 4% interest, compounded semiannually. Use Table 12-1 to find the future value (in $) of $900 deposited at the beginning of every six months, for 17 years. (Round your answer to the...

Q:

Your bank pays 4% interest, compounded semiannually. Use Table 12-1 to find the future value in $) of $700 deposited at the beginning of every six months, for 16 years. (Round your answer to the...

Q:

caich up on the ungaid balance in November. She spilled watercolor paint on that portion o she made a 5200 payment on November 10 She also charged purchases of o her work. She has was 5600 5, s100 on...

Q:

UNIT 5 QZ, Q-20 UNIT 5 / UNIT 8 QUESTIONS KEEP ANSWERS SEPARATE BY UNITS UNIT II STUDY GUIDE Consumer Mathematics Reading Assignment See information below. Key Terms 1. Add-on interest method 2....

Q:

solve the given problem question A B and C in the given detail using excel. please provide complete solution for all questions Tiffany owns an event management business that is currently operating...

Q:

Dear Sir/Madam: please help me with this Math Homework. i have attached all the pics. thank you F G H J K Mini Financial Calculators od boxes are the outputs based on the given inputs above the box....

Q:

unit II q12. Summarized on the right is the sale (in thousands) of the top five products in 2002. Use this information to calculate what percent of the sales of these five products was due to product...

Q:

The Spanish Navy Pays Nearly $3 Billion for a Submarine That Will Sink Like a Stone In 2003, shipbuilders at Navantia, Spain's state- owner shipyard, welcomed a contract from their navy to construct...

Q:

Could we balance the budget by taxing and selling pot? Free college! Better healthcare! They said that about gambling, right. But wait a minute. At what cost? Isn't there a downside to drugs,...

Q:

7. What impact does the decision to enroll in college or university have on your individual supply curve for labour while you are in school? Does it cause a shift in the supply curve or a movement...

Q:

Why is marketing not just selling and advertising? [4]

Q:

An ordinary annuity consists of quarterly payments of $100 for 5 1/2 years. What is the annuitys present value, discounting at 10% compounded quarterly?

Q:

Determine the present value of end-of-month payments of $75 continuing for 2 1/2 years. Use 8% compounded monthly as the discount rate.

Q:

How much will it cost to purchase an ordinary annuity delivering semiannual payments of $2000 for 12 1/2 years if the money used to purchase the annuity can earn 7.5% compounded semiannually?

Q:

What is the primary difference between the null and the research hypothesis? What is the importance of assuming the null hypothesis is true

Q:

Lipscomb is set to establish a reorder policy for his remote snack bar located on Vacation Island. He sells 10 cases of soda per day and has a lead-time for delivery of one week. Occasionally, bad...

Q:

Your friend Phil, asks you what you think about a new scratch- off lottery game. It costs $10 to play this game, There are two outcomes for the game (win, lose) and the probability that a player wins...