Question
You lend out $1000 and get it back in 12 monthly payments of $87.45 each. The effective interest rate percent you earned on your investment
You lend out $1000 and get it back in 12 monthly payments of $87.45 each. The effective interest rate percent you earned on your investment was (Answer in percent to the nearest tenth of a percent and omit the % sign. Be careful if you use Excel that it does not round off to the nearest percent) :
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Intermediate Accounting
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Nicola M. Young, Irene M. Wiecek, Bruce J. McConomy
11th Canadian edition Volume 2
1119048540, 978-1119048541
