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You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of $444.89 each to begin one month from today. What is the annual interest rate you are paying? What is the EAR?
You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of $444.89 each to begin one month from today. What is the annual interest rate you are paying? What is the EAR?