You have decided to buy a car that costs $34,100. The dealer offers you a 5-year loan with monthly
payments of $695 per month. What is the annual nominal interest rate on the loan?
2 answers
Mr.j
Mr.Jones took out a $18,000.00 loan. he figured out that after 5 years,he will have paid $1,575.00 in interest what is the interest rate on his loan.