You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12 - 3097

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Price: $1.25
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  • Posted on: Thu 22 Mar, 2012
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Request Description

You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. The annual interest rate is:
a. 24%.
b. 8%.
c. 18%.
d. 12%.

Solution Description

You wish to borrow $2,000 to be repaid in 12 monthly installments of $1