Annuity Value. Youve borrowed $4,248.68 and agreed to pay back the loan with monthly payments of $200.
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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 percent stated as an APR, how long will it take you to pay back the loan? What is the effective annual rate on the loan?
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Related Book For 
Study Guide To Accompany Fundamentals Of Corporate Finance
ISBN: 9780073012421
5th Edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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