Question
You want to borrow $66,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,400, but no
You want to borrow $66,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,400, but no more.
Required: Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan?
Highest Rate $
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QFinance The Ultimate Resource
Authors: Various Authors
1st Edition
1849300003, 978-1849300001
