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A loan is offered with monthly payments and a 1250 percent

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A loan is offered with monthly payments and a 12.50 percent APR. What's the loan's effective annual rate (EAR)? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

To borrow $1,400, you are offered an add-on interest loan at 7 percent. Three loan payments are to be made, one at four months, another at eight months, and the last one at the end of the year. Compute the three equal payments. (Round your answer to 2 decimal places.

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Accounting Basics: A loan is offered with monthly payments and a 1250 percent

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Accounting Basics: A loan is offered with monthly payments and a 1250 percent

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