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Phuong agrees to a loan from the bank of $25,000 to buy a new car. She agrees to pay $475 per month for five years
Phuong agrees to a loan from the bank of $25,000 to buy a new car. She agrees to pay $475 per month for five years after which the loan will be fully paid off.
In percentages, what is the:
- Monthly periodic rate for this loan?
- Annual Percentage Rate (APR) for this loan?
- Effective Annual Rate (EAR) for this loan?
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International Finance A Practical Perspective
Authors: Adrian Buckley
1st Edition
0273731866, 9780273731863
