What is the average annual rate of interest of loan

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1. Suppose that you get a loan for $50,000, which requires 5 yearly payments of $12,000 to be fully paid off. What is the average annual rate of interest of this loan?

2. What must the sticker price of a car be if you get a loan which requires payments of $6,170 per year for 5 years at an annual interest rate of 9%?

3. You buy a home in cash for $350,000. Five years later you sell the house for $468,378.95. What was your average annual rate of return on this investment?

Reference no: EM131818281

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