Question
Picabo got a $4,500 student loan for 1 year graduate study. To repay the amount she makes 12 equal monthly payments of $415. 1) The
Picabo got a $4,500 student loan for 1 year graduate study. To repay the amount she makes 12 equal monthly payments of $415.
1) The effective monthly interest rate is ________________________
2) The effective annual interest rate is ________________________
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
