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6. Shania would like to finance the purchase of her car. If she borrows $20 000 as a five-year loan from the bank and
6. Shania would like to finance the purchase of her car. If she borrows $20 000 as a five-year loan from the bank and the bank requires her to make end-of-month payments of $400, what is the annual interest rate on her loan if interest is compounded monthly and the loan is completely paid off at the end of the five-year period? (I/Y)
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Horngrens Accounting
Authors: Tracie L. Miller Nobles, Brenda L. Mattison, Ella Mae Matsumura
10th edition
133117413, 978-0133129519, 133129519, 978-0133129557, 133129551, 978-0133117561, 133117561, 978-0133117417
