Find effective annual interest rate on loan


If you take out an $8,000 car loan that calls for 48 monthly pauments at an APR of 10%, what is your monthly payment? What is the effective annual interest rate on the loan?

Solution Preview :

Prepared by a verified Expert
Finance Basics: Find effective annual interest rate on loan
Reference No:- TGS0673074

Now Priced at $5 (50% Discount)

Recommended (92%)

Rated (4.4/5)