Asked by Anonymous
Picabo borrows $1,000. To repay the amount she makes 12 equal monthly payments of $90.30. Determine the following:
(a) The effective monthly interest rate
(b) The nominal annual interest rate
(c) The effective annual interest rate
(a) The effective monthly interest rate
(b) The nominal annual interest rate
(c) The effective annual interest rate
Answers
There are no AI answers yet. The ability to request AI answers is coming soon!
There are no human answers yet. A form for humans to post answers is coming very soon!