Please calculate: What is the PER, APR and the EAR for a $15,000, 9 month (short term), where the stated rate is 6% 1.Use the simple interest calculation PER APR EAR 2. Use the discount intere loan method PER

Please calculate: What is the PER, APR and the EAR for a $15,000, 9 month (short term), where the stated rate is 6% 1.Use the simple interest calculation PER APR EAR 2. Use the discount intere loan method PER

Pfin (with Mindtap, 1 Term Printed Access Card) (mindtap Course List)

7th Edition

ISBN:9780357033609

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter7: Using Consumer Loans

Section: Chapter Questions

Problem 5FPE

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Question

Please calculate:
What is the PER, APR and the EAR for a $15,000, 9 month (short term), where the stated rate is 6%
1.Use the simple interest calculation
PER
APR
EAR
2. Use the discount interek loan method
PER
APR
EAR

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