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Calculating annuity present values you want to borrow 80000

Question: Calculating Annuity Present Values. You want to borrow $80,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,650, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan?

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Finance Basics: Calculating annuity present values you want to borrow 80000

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