Question
Monk Manley needs $30,000 to buy a new car. Nick the Greek has offered to lend him the money if he agrees to repay $622.75
Monk Manley needs $30,000 to buy a new car. Nick the Greek has offered to lend him the money if he agrees to repay $622.75 per month for the next 5 years. What annual interest rate is being charged on the loan?
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Investment Science
Authors: David G. Luenberger
1st Edition
0195108094, 978-0195108095
