11 poing CI 3.26) A 36-month car loan of $15000 can be completely on with monthly payments each month. What is the nominal rate of interest convertible monthly on this loan? roblems m2 a) Computed on an exact basis with a financial calculator ANSWER: b) Approximated by the formula for the equation 8 (Note: The formula gives the approximated interest rate per payment period. To find the approximated nominal Interet rate per year, you need to multiply it by the number of payments per year.) ANSWER 77 Note: You can earn partial credit on this problem olemg/ Preview My Answers Submit Answers 11VU.FIUUICHT Previous Problem Problem List Next Problem (1 point) (Exercise 3.28) A 36-month car loan of $13000 can be completely paid off with monthly payments of $416.43 made at the end of each month. What is the nominal rate of interest convertible monthly on this loan? a) Computed on an exact basis with a financial calculator. ANSWER = b) Approximated by the formula is % for the equation d = g. (Note: The formula gives the approximated interest rate per payment period. To find the approximated nominal Interet rate per year, you need to multiply it by the number of payments per year.) ANSWER Note: You can earn partial credit on this problem. Preview My Answers Submit Answers 11 poing CI 3.26) A 36-month car loan of $15000 can be completely on with monthly payments each month. What is the nominal rate of interest convertible monthly on this loan? roblems m2 a) Computed on an exact basis with a financial calculator ANSWER: b) Approximated by the formula for the equation 8 (Note: The formula gives the approximated interest rate per payment period. To find the approximated nominal Interet rate per year, you need to multiply it by the number of payments per year.) ANSWER 77 Note: You can earn partial credit on this problem olemg/ Preview My Answers Submit Answers 11VU.FIUUICHT Previous Problem Problem List Next Problem (1 point) (Exercise 3.28) A 36-month car loan of $13000 can be completely paid off with monthly payments of $416.43 made at the end of each month. What is the nominal rate of interest convertible monthly on this loan? a) Computed on an exact basis with a financial calculator. ANSWER = b) Approximated by the formula is % for the equation d = g. (Note: The formula gives the approximated interest rate per payment period. To find the approximated nominal Interet rate per year, you need to multiply it by the number of payments per year.) ANSWER Note: You can earn partial credit on this problem. Preview My Answers Submit Answers