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Payment # Payment Interest Debt Payment Balance 1 1,167.34 540.54 626.80 259,873.20 2 1,167.34 539.24 628.10 259,245.10 3 1,167.34 x y z With the exception
Payment # | Payment | Interest | Debt Payment | Balance |
---|---|---|---|---|
1 | 1,167.34 | 540.54 | 626.80 | 259,873.20 |
2 | 1,167.34 | 539.24 | 628.10 | 259,245.10 |
3 | 1,167.34 | x | y | z |
With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loan. Give your answer to the nearest hundredth percent. Do not include the % sign in your response.
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