Question
You just bought a car on credit for $22,000 and the terms of the loan are: 5-year car loan for with monthly (end of the
You just bought a car on credit for $22,000 and the terms of the loan are: 5-year car loan for with monthly (end of the month) payments of $730.71 What is the Effective Annual interest Rate (EAR) of this loan?
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Financial Management Core Concepts
Authors: Raymond M Brooks
2nd edition
132671034, 978-0132671033
