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(2) A 2 year, $6,000 loan at 7% interest with monthly payments. The lender charges you a $100 fee that can be paid off, interest
(2) A 2 year, $6,000 loan at 7% interest with monthly payments. The lender charges you a $100 fee that can be paid off, interest free, in equal monthly installments over the life of the loan. Thinking of the fee as additional interest, what is the actual interest rate you will pay?
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Foundations Of Statistics For Data Scientists With R And Python
Authors: Alan Agresti
1st Edition
0367748452, 978-0367748456
