What would be the monthly loan payments

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Reference no: EM131852148

1. Rate of return : Chase bank agreed to lend you 50,000 for 10 years in return for 10 annual payments of 7,791( each payment is due at the end of the year) what is the annual percent rate of interest being charged?

a. apprx 20% b.approx 16% c. approx. 9% d. 5.4%

2. Loan Payment: Edna's car is on sale 16,995. If you could borrow that amount from Tom's Credit union at 7% for 4 years, what would be the monthly loan payments

a. 232.30 b. 378.85 c. 406.97 d. 5,017.40

Reference no: EM131852148

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