Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,500 each. What rate will you be q...
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Suppose you borrow $15,000 and then repay the loan by making 12 monthly payments of $1,500 each. What rate will you be quoted on the loan?
1.67% per month |
2.33% per month |
2.92% per month |
1.42% per month |