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Dayo takes out a loan for $2,316.60. The term of the loan is 3 years, and she will make weekly payments. The interest rate on
Dayo takes out a loan for $2,316.60. The term of the loan is 3 years, and she will make weekly payments. The interest rate on the loan is 1.025% compounded daily. a) What is the effective interest rate per payment period? b) If Dayo is going to repay the loan with level payments, what is the weekly payment amount? c) Fill in the first 3 rows of the loan amortization table.
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