Compute the loan’s apr and rear

Reference no: EM131407810

Carefree Leisure has a 40-day discount interest loan outstanding. The principal amount of the loan is $60,000, its quoted interest rate is 12 percent, and there is no compensating balance requirement. Compute the loan's APR and rEAR.

Reference no: EM131407810

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Compute the loan’s apr and rear : Carefree Leisure has a 40-day discount interest loan outstanding. The principal amount of the loan is $60,000, its quoted interest rate is 12 percent, and there is no compensating balance requirement. Compute the loan's APR and rEAR.

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