Question
Your bank has agreed to grant you a discount loan with an APR of 6.25%. If you need $10,000 today, the loan is to be
Your bank has agreed to grant you a discount loan with an APR of 6.25%. If you need $10,000 today, the loan is to be repaid in full in one year, and the total interest to be paid is $667, what is the EAR of the loan?
| 6.69% | ||
| 6.25% | ||
| 6.45% | ||
| 6.67% |
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Master The Art Of House Flipping
Authors: Livia V. Velez
1st Edition
979-8865806561
