Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Peter has a balance in a personal loan for $4,300. He pays $153 bi-weekly; $76 in interest, $52 in loan fees and $25 to pay
Peter has a balance in a personal loan for $4,300. He pays $153 bi-weekly; $76 in interest, $52 in loan fees and $25 to pay the principal. What is the interest rate of the loan? When he would finish paying it? How much he would pay at the end?
Peter has a balance in a personal loan for $4,300.
He pays $153 bi-weekly; $76 in interest, $52 in loan fees and $25 to pay the principal.
What is the interest rate of the loan? When he would finish paying it? How much he would pay at the end?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Basic Accounting Concepts Principles And Procedures Volume 1
Authors: Gregory Mostyn, Worthy And James
2nd Edition
0991423100, 978-0991423101
