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You borrow $10,000 over a 5-year period with monthly payments. Find the 1) EAR, 2) APR compounded monthly, and 3) payment per period, and set
You borrow $10,000 over a 5-year period with monthly payments. Find the 1) EAR, 2) APR compounded monthly, and 3) payment per period, and set up the formula for finding the payment for 10% compounded semi-annually. You nust show the formula or eauation.xu are using for the calulation. 1. 1) What is EAR? 2) What is Effective Monthly Rate and APR compounded monthly? 3) What is the payment per month? Set up the formula for finding the payment
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