To borrow 1300 you are offered an add on interest loan at, Finance Basics

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To borrow 1300 you are offered an add on interest loan at

Question: To borrow $1,300, you are offered an add on interest loan at 8.8 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.)

Compute the EAR of the loan. (Do not round intermediate calculations and round your answer to 2 decimal places.)

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Finance Basics: To borrow 1300 you are offered an add on interest loan at

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