Business, 17.09.2019 21:20 mwms2018sg
You have just borrowed $260,000 to buy a condo. you will repay the loan in equal monthly payments of $2,738.38 over the next 25 years. a. what monthly interest rate are you paying on the loan? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is the apr? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) c. what is the effective annual rate on that loan? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) d. what rate is the lender more likely to quote on the loan?
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You have just borrowed $260,000 to buy a condo. you will repay the loan in equal monthly payments of...
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