You promise to repay the loan in 24 monthly repayments
You want to borrow $1,500 from a friend to cover your school fees. You promise to repay the loan in 24 monthly repayments commencing today. If the effective annual interest (EAR) rate is 18.0% what is the amount of the monthly repayment?
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you want to borrow 1500 from a friend to cover your school fees you promise to repay the loan in 24 monthly repayments
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