Question
If you borrow $4,600 at $850 interest for one year, what is your effective interest rate for the following payment plans?(Input your answers as a
| If you borrow $4,600 at $850 interest for one year, what is your effective interest rate for the following payment plans?(Input your answers as a percent rounded to 2 decimal places.) |
| Effective Rate of Interest | |
| a.Annual payment | % |
| b. Semiannual payments | % |
| c.Quarterly payments | % |
| d. Monthly payments | % |
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Investment Analysis and Portfolio Management
Authors: Frank K. Reilly, Keith C. Brown, Sanford J. Leeds
11th Edition
1305262999, 1305262997, 035726164X, 978-1305262997
