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asap plz answer a. You've borrowed $4,129.23 and agreed to pay back the loan with monthly payments of $160. If the interest rate is 12%
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a. You've borrowed $4,129.23 and agreed to pay back the loan with monthly payments of $160. If the interest rate is 12% stated as an APR, how long will it take you to pay back the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Payback period years b. What is the effective annual rate on the loan? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Step by Step Solution
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Computational Techniques In Economics And Finance
Authors: Constantin Zopounidis
1st Edition
1613245580, 978-1613245583
