You wish to borrow $2,000 to be repaid in 12 monthly installments of $189.12. - 4402

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UoPExpert

UoPExpert

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  • Posted on: Wed 28 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