Question
Mikhail bought furniture costing $1685 for his new apartment. To pay for it his bank gave him a 4-year add-on interest loan with a monthly
Mikhail bought furniture costing $1685 for his new apartment. To pay for it his bank gave him a 4-year add-on interest loan with a monthly payment of $48.79. How much interest did Mikhail pay?
In the above problem where Mikhail financed a purchase with an add-on interest loan making monthly payments for 4 years, what simple interest rate was he charged?
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Beyond Greed And Fear Understanding Behavioral Finance And The Psychology Of Investing
Authors: Hersh Shefrin
1st Edition
0195161211, 978-0195161212
