Question
What is the APR for a $540 loan when the loan is paid off in 12 equal monthly payments at the stated annual interest rate
What is the APR for a $540 loan when the loan is paid off in 12 equal monthly payments at the stated annual interest rate of 17.0 percent? (Round your answer to 2 decimal places.)
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15.69%
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33.93%
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31.38%
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18.00%
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15.30%
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Financial Markets And Institutions
Authors: Frederic S. Mishkin, Stanley Eakins
6th International Edition
0321552113, 9780321552112
