APR of Loan
When you take out an $8,000 car loan that calls for 48 monthly payments of $225 each, then what is the APR of loan?
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Let ROI is 12%Monthly int rate is 1%pm(1+1/100)^48 = 37.9737.97*225=8543Loan amt is 8000 and amt paid is 8543Therefore int paid is 543Now i don’t know exactly but it may be like this543/8000*12/48*100=.17%
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1 Assume the following (all rates are stated annually with semiannual compounding) a. Six Month Spot Rate is 2% b. Six Month Forward rate starting at month six is 2.2% c. Six Month Forward rate starting at month 12 is 2.4% d. Six Month Forward rate starting at mont
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