Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

I take loan from bank of $45000 loan amount. Monthly payment 910.93, for 60 months Find The formula to calculate the interest rate which is

I take loan from bank of $45000 loan amount. Monthly payment 910.93, for 60 months Find The formula to calculate the interest rate which is (7.93%).

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Asset Allocation Strategies For Mutual Funds Evaluating Performance Risk And Return

Authors: Giuseppe Galloppo

1st Edition

3030761274,3030761282

More Books

Students also viewed these Finance questions