Yoursquove borrowed 690371 and agreed to pay back the loan, Financial Management

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Yoursquove borrowed 690371 and agreed to pay back the loan

You’ve borrowed $6,903.71 and agreed to pay back the loan with monthly payments of $270. Assume the interest rate is 15% stated as an APR. a. How long will it take you to pay back the loan in Number of months? b. What is the effective annual rate on the loan?

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Financial Management: Yoursquove borrowed 690371 and agreed to pay back the loan

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Financial Management: Yoursquove borrowed 690371 and agreed to pay back the loan

Reference No:- TGS01416311

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