A house costs $142,000. It is to be paid off in exactly ten years, with monthly payments of $1,779.64. What is the APR of this loan?A. 6.75%О в. 8.75%ос. 7.75%D. 9.75%

Annual Percentage Rate(APR) is nothing but the rate of interest charged to borrower and it will be…

Answered: A house costs $142,000. It is to be…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A house costs $142,000. It is to be paid off in exactly ten years, with monthly payments of $1,779.64. What is the APR of this loan? A. 6.75% О в. 8.75% ос. 7.75% D. 9.75%