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Happy Sharks Lending is offering a special introductory loan to new victims... uh, customers. For a loan of $3,500, they will allow one to pay
Happy Sharks Lending is offering a special introductory loan to new victims... uh, customers. For a loan of $3,500, they will allow one to pay $250 per month for 36 months. What is the equivalent yearly interest rate for this loan? (HINT: remember for monthly compilationof the loand it is i/12).Change values of i until the equation balances out. Try values of i going up until pass your mark and then circle back. Show examples of trying out.
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