Question
Chris just borrowed $78,000 to buy a new Corvette. The loan requires Chris to pay $1,524.14 per month (first payment exactly one month from today)
Chris just borrowed $78,000 to buy a new Corvette. The loan requires Chris to pay $1,524.14 per month (first payment exactly one month from today) for 72 months. The annual nominal interest rate on Chris' loan is ___________ p.a.
- 0.99%
- 11.98%
- 5.99%
- 0.50%
- 8.54%
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The Analysis And Use Of Financial Statements
Authors: Gerald I. White, Ashwinpaul C. Sondhi, Haim D. Fried
3rd Edition
0471375942, 978-0471375944
