Determine the loan with the lowest effective interest rate

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Reference no: EM131836425

Banks and other lenders are required to disclose a rate called the APR. What is this rate? Why did Congress require that it be disclosed? Is it the same as the effective annual rate? If you were comparing the costs of loans from different lenders, could you use their APRs to determine the loan with the lowest effective interest rate? Explain

The net present value is $____ and the future value is $______

Reference no: EM131836425

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Determine the loan with the lowest effective interest rate : If you were comparing the costs of loans from different lenders, could you use their APRs to determine the loan with the lowest effective interest rate?

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