You want to borrow $73,000 from your local bank to buy a new sailboat. You can afford

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You want to borrow $73,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,450, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan?

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Fundamentals of corporate finance

ISBN: 978-0073382395

9th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Dec 16, 2016 01:48 PM

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You want to borrow $73,000 from your local bank to buy a new sailboat. You can afford

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Fundamentals of corporate finance

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