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Helen borrows $1000. To repay the amount, she makes 14 equal monthly payment of $93.12. Determine the following Rates: Show detail of your Set up
Helen borrows $1000. To repay the amount, she makes 14 equal monthly payment of $93.12. Determine the following Rates: Show detail of your Set up Data, Formula, Calculation and Final Answer for each part. a) The effective Annual interest rate? b) The effective Every 3 years interest rate? c) The effective Continues interest rate? d) The effective Daily interest rate? e) The Effective Every Week interest rate ? f) If you Would Like to get a Loan ? Which one Rate recommend and Why
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