Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Calculate the finance charge (in $) and the annual percentage rate for the installment loan by using the APR formula. (Round dollar amounts to the nearest cent and percentages to one decimal place.)
Amount Financed |
Number of Payments |
Monthly Payment |
Finance Charge |
APR |
---|---|---|---|---|
$18,300 | 72 | $424.08 | $ | % |
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