to borrow $1200 you were offered an add on interest loan at 10.0% with 12 monthly payments compute 12 equal payments

6 Help Save & Exit Submi Check my work Problem 5-46 EAR of Add-On Interest Loan (LG5-7, LG5-8) To borrow $1.200, you are offered an add on interest loan at 100 percent with 12 monthly payments. Compute the 12 equal payments Round your answer to 2 decimal places.) Use the amount you borrowed and the monthly payments you computed to calculate the APR of the loan. Then, use that APR to compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places.) Pre 30 of 40 Ne >