What are the monthly payments and effective rate

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Reference no: EM131561523

Add -on interested, consider a 6 year loan at 8.5 % for $21, 750,00 that is figured on an add on interest basis. What are the monthly payments? What that is APR? suppose the underlying asset's value is actually just $19,000,00 what is the effective rate?

Reference no: EM131561523

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