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You want to borrow $67,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,300, but no
You want to borrow $67,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,300, but no more.
Required:Assuming monthly compounding, what is the highest rate you can afford on a 66-month APR loan?(Round your answer as directed, but do not use rounded numbers in intermediate calculations.Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
Highest rate%
I need to help how to solve this in a financial calculator
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