To borrow 1550 you are offered an add on interest loan at, Financial Management

To borrow 1550 you are offered an add on interest loan at

EAR of Add-On Interest Loan

To borrow $1,550, you are offered an add on interest loan at 8.3 percent with 12 monthly payments. Compute the 12 equal payments. (Round your answer to 2 decimal places.)

Equal payments $

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

EAR %

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Financial Management: To borrow 1550 you are offered an add on interest loan at

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Financial Management: To borrow 1550 you are offered an add on interest loan at

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