Question
Assume that interest is the only finance charge. Use financial calculator to answer the questions. a) How much interest would be paid on a $6,000
Assume that interest is the only finance charge. Use financial calculator to answer the questions.
a) How much interest would be paid on a $6,000 installment loan to be repaid in 60 monthly installments of $133.50? Round the answer to 4 decimal places. _____% per month
b) What is the APR on this loan? Round the answer to 2 decimal places. ____ %
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Financial Management Principles And Applications
Authors: Sheridan Titman, Arthur Keown, John Martin
13th Global Edition
1292222182, 978-1292222189
