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harkovskaia [24]
2 years ago
15

Economic formulas are available to compute annual payments for loans. suppose that you borrow an amount of money p and agree to

repay it in n annual payments at:_____.
Business
1 answer:
Lapatulllka [165]2 years ago
6 0

The amount of money p will be payed  in an annual payments at Annual percentage rate.

Annual percentage rate is the yearly interest produced by a sum that the borrower has to pay . Annual percentage rate is conveyed as a percentage that shows the real annual cost of funds during the term of a loan or income earned on an investment. It does not consider compounding into account.

"APR is calculated by multiplying the periodic interest rate by the number of periods in a year in which it was put in".

APR=((Fees+Interest/p/n)×365)×100

Where-

Interest=Total interest paid during life of the loan

P=Loan amount

n=Number of days in loan term

To learn more about  Annual percentage rate here

brainly.com/question/17613825

#SPJ4

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