Question
1.A loan is offered with monthly payments and a 12.50 percent APR. Whats the loans effective annual rate (EAR)? 2. Assume that you contribute $360
1.A loan is offered with monthly payments and a 12.50 percent APR. Whats the loans effective annual rate (EAR)?
2. Assume that you contribute $360 per month to a retirement plan for 15 years. Then you are able to increase the contribution to $720 per month for another 25 years. Given a 6.0 percent interest rate, what is the value of your retirement plan after the 40 years?
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The Business Of Personal Finance
Authors: Joseph Calandro Jr, John Hoffmire
1st Edition
1032104562, 978-1032104560
