What is effective annual interest rate

Reference no: EM13189190

a bank gives you a loan of 1000 now. You have to make a payment of 500 after 9 months and a payment of 600 after 12 months. What is effective annual interest rate?(set up equation for B(beta)

Reference no: EM13189190

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What is effective annual interest rate : a bank gives you a loan of 1000 now. You have to make a payment of 500 after 9 months and a payment of 600 after 12 months. What is effective annual interest rate?(set up equation for B(beta)

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