Question
Calculate the annual effective cost of a $15,722 loan with an APR of 4.92%, compounded annually, with a 1.53% loan origination fee Loan Amount 15,
Calculate the annual effective cost of a $15,722 loan with an APR of 4.92%, compounded annually, with a 1.53% loan origination fee
Loan Amount 15, 722
Timer Period 21
APR 4.92%
APR (monthly)
Monthly Payment
Origination Fees 1.53%
Net Loan Amount 15,481.45
Annual Effective Cost
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Financial Modeling
Authors: Simon Benninga, Tal Mofkadi
5th Edition
0262046423, 9780253337825
