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APR Question You want to borrow $103,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $2,350,
APR Question
| You want to borrow $103,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $2,350, but no more. |
| Assuming monthly compounding, what is the highest APR you can afford on a 54-month loan?(Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
| APR | % |
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International Business The Challenges Of Globalization
Authors: John J. Wild, Kenneth L. Wild
9th Edition
0134729226, 978-0134729220
