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Simora [160]
4 years ago
5

A finance company offers a "12% plan". The cost of a one-year loan is 12%, and this cost is added to the loan. This total is the

n divided by 12 to get the monthly payments. Calculate the effective interest rate being charged for a loan of $9,000.
Business
1 answer:
nikklg [1K]4 years ago
3 0

Answer:

840

Explanation:

Interest rate=12%

Interest for $9000= 12% × 9000

Interest for $9000= 12/100 × 9000

Interest for $9000 = $1080

Interest + principal loan amount = $9000 + $1080 = $10080

Monthly payment = $10080/12months = $840

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Answer:

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Explanation:

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Answer:

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Explanation:

Missing word <em>"What could be the net annual cost"</em>

<em />

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6 0
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Bond [772]

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