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What is the effective annual rate of interest

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Question 1: You need a loan to purchase new equipment. The loan will be paid off over 8 years with payments made at the end of every quarter. If the stated annual rate is 04.00% and quarterly payments are $436, what is the loan amount?

Question 2: You would like to purchase a car for $20,022. If the car loan is 08.00% financed over 4 years, what will the monthly payments be for this car?

Question 3: What is the most that you would pay for an investment that promises to pay $15,897 a year forever with the first payment starting one year from now? Assume that your required rate of return for this investment is 10.00%.

Question 4: A loan has a stated annual rate of 15.00%. If loan payments are made monthly and interest is compounded monthly, what is the effective annual rate of interest?

Reference no: EM132485883

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