You have just borrowed 20000 to buy a new car the loan

Reference no: EM13621738

You have just borrowed $20,000 to buy a new car. The loan agreement calls for 60 monthly payments of $444.89 each to begin one month from today. If the interest is compounded monthly, then what is the effective annual rate on this loan?

Reference no: EM13621738

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You have just borrowed 20000 to buy a new car the loan

Reference no: EM13621738

Reference no: EM13621738

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