Question
a. You borrow $10,000 at an Effective Yield (APY) of 8 percent. If payments are made monthly, what periodic rate are you paying? b. What
a. You borrow $10,000 at an Effective Yield (APY) of 8 percent. If payments are made monthly, what periodic rate are you paying?
b. What is the APR, or nominal rate?
c. What is the effective annual rate for a $5000 loan which will be repaid monthly over the next three years if the APR is 12 percent?
a) 0.64%
b) 7.72%
c) 12.68%
please show me how to solve
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Multivariate Methods And Forecasting With IBM SPSS Statistics
Authors: Abdulkader Aljandali
1st Edition
3319564803,3319564811
