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For a 4 - year loan of $ 6 0 , 0 0 0 with an interest rate of 1 0 . 8 0 %
For a year loan of $ with an interest rate of compounded monthly,
What is your monthly payment?
What is the effective annual interest rate?
What is the effective monthly interest rate?
If I dont make any payment for two years assuming no penalties and pay off the entire loan at the end of the second year, what amount do I need to pay?
What is the economic equivalent value of $ at this interest rate in months
Please only put the numerical value into the answer box. For round up your answer to the nearest integer. For and please only put the numerical value of the percentage in decimal points.
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