39. Annuity Value. You've borrowed $4,248.68 and agreed to pay back the loan with monthly payments of
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39. Annuity Value. You've borrowed $4,248.68 and agreed to pay back the loan with monthly payments of $200. If the interest rate is 12% stated as an APR, how long will it take you to pay back the loan? What is the effective annual rate on the loan? (LO3)
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Related Book For 
Fundamentals Of Corporate Finance
ISBN: 9780073382302
6th Edition
Authors: Richard A Brealey, Stewart C Myers, Alan J Marcus
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