Question
Friendly company has sold you 10,000 worth of food that will be repaid by payments of $210 per month for the next 15 years. A.
Friendly company has sold you 10,000 worth of food that will be repaid by payments of $210 per month for the next 15 years.
A. Compute the effective monthly rate
B. What is the annual percentage rate (APR)
C. what is the effective annual rate or equivalent annual return (EAR)
show work!!
Your spouse wants to buy a new car. the car cost 100,000 and would be financed with monthly payments over an 8-year period. The credit union is offering interest rates of 2.4% APR on monthly car loans.
How much are the payments?
show work!!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Healthcare Finance An Introduction To Accounting And Financial Management
Authors: Louis Gapenski PhD
3rd Edition
1567932320, 978-1567932324
