A loan company will lend you 5000 repayable over the next 3, Macroeconomics

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A loan company will lend you 5000 repayable over the next 3

Question: 1. A loan company will lend you £5,000, repayable over the next 3 years in monthly payments. What will these payments be if the APR on the loan is 24.6%?

2. What will be the monthly payments on a repayment mortgage of £75,000 taken out over 20 years if the interest rate is fixed at 0.95% per month?

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Macroeconomics: A loan company will lend you 5000 repayable over the next 3

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Macroeconomics: A loan company will lend you 5000 repayable over the next 3

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