Question
You want to borrow $60000 from your local bank to buy a new sailboat. You can afford to make QUARTERLY payments of $6000, but no
You want to borrow $60000 from your local bank to buy a new sailboat. You can afford to make QUARTERLY payments of $6000, but no more. Assuming quarterly compounding, what is the highest APR you can afford on a 60 month loan?
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M: Finance
Authors: Marcia Cornett, Troy Adair, John Nofsinger
5th Edition
1260772357, 9781260772357
