Question
1.) EFFECTIVE INTEREST RATE You borrow $90,000; the annual loan payments are $12,875.58 for 30 years. What interest rate are you being charged? Then suppose
1.) EFFECTIVE INTEREST RATE You borrow $90,000; the annual loan payments are $12,875.58 for 30 years. What interest rate are you being charged? Then suppose you could get a different loan for 90,000 with a monthly payment of $11,875.58 for 30 years. What interest rate are you being charged? Round to TWO decimal places for both problems.
Interest rate #1=
Interest rate #2=
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Public Finance A Contemporary Application Of Theory To Policy
Authors: David N Hyman
12th Edition
0357442156, 978-0357442159
