Question
Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $6,000 installment
Assume that interest is the only finance charge. Use financial calculator to answer the questions. How much interest would be paid on a $6,000 installment loan to be repaid in 48 monthly installments of $158.11? Round the answer to 4 decimal places.
_____% per month
What is the APR on this loan? Round the answer to 2 decimal places.
_____%
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Corporate Finance Core Principles and Applications
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
3rd edition
978-0077971304, 77971302, 978-0073530680, 73530689, 978-0071221160, 71221166, 978-0077905200
