Question
Terri takes out a loan of $6800. She will repay the loan over 5-years with semi-annual payments of $816 (first payment due in 6-months). Using
Terri takes out a loan of $6800. She will repay the loan over 5-years with semi-annual payments of $816 (first payment due in 6-months). Using linear interpolation, what rate of interest, j2 is being charged on the loan? You are given:
= 8.3166, = 8.1109
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
