What are the effective interest rates on these loans, Finance Basics

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What are the effective interest rates on these loans

The Adam Limousine Company wants to purchase a car entertainment system for one of its automobiles. The entertainment system vendor has offered to finance the $2,000 purchase over one year in 12 installments, with a total of $200 in interest to be paid on the loan. Adam's bank has offered to finance the purchase with an installment loan, where $155 in interest will be repaid and payments on the loan must be made quarterly. What are the effective interest rates on these loans? Which loan should they select?

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Finance Basics: What are the effective interest rates on these loans

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Finance Basics: What are the effective interest rates on these loans

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Recent Questions Asked Finance Basics

Q : What speed will put the car on the verge of sliding

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Q : What is the future value of each of these options

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Finance Basics: What are the effective interest rates on these loans

Reference No:- TGS0728697

Recent Questions Asked Finance Basics

Q : What speed will put the car on the verge of sliding

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Q : What is the future value of each of these options

Q : Find the moment of inertia of the bar

Q : What are the effective interest rates on these loans

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Q : What is the rate of return on the total premiums paid

Q : Determine the energy of the incident electron

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