Question
Today, Jack borrows $5,000. He will repay it in 60 monthly instalments of $150 commencing today. The nominal annual interest rate can be determined using
Today, Jack borrows $5,000. He will repay it in 60 monthly instalments of $150 commencing today. The nominal annual interest rate can be determined using which of the following?
Select one:
a. =RATE(60,-150,5000,0,0)
b. =RATE(60,-150,5000,0,1)
c. =RATE(60,-150,5000)*12
d. =RATE(60,-150,5000,0,1)*12
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The Handbook Of Structured Finance
Authors: Arnaud De Servigny, Norbert Jobst
1st Edition
0071468641, 978-0071468640
