Lab 4 Question 3 - Finanace question regarding effective monthly rate and effective annual rate- please read? - annual interest calculator
Lab 4 Question 3 - Question Finanace the effective monthly rate and annual percentage rate, please read?
The question that I see can not find a way, the fees hereinafter referred to as a solution with a simulator II BA or a financial calculator. Who knows how to solve the types of use of a computer?
A local finance company for a premium of 10 percent on loans of one year. So, if you borrow $ 30,000 from us, the interest for the year will be U.S. $ 3,000. Because you pay a total of $ 33,000 per year, the finance company requires you to pay $ 33,000 / 12, or $ 2750 per month for the next 12 months.
(a) This is not really 10 percent of the loan. Instead, what the effective monthly rate?
Sunday, January 17, 2010
Annual Interest Calculator Lab 4 Question 3 - Finanace Question Regarding Effective Monthly Rate And Effective Annual Rate- Please Read?
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The rate of 10 percent is the annual percentage rate, which is based must be reported by law. To get the actual monthly installments, all you need to do is the annual percentage rate, divide the number of times. In this case, it would be) 10 of 12 (B / C, 12 months ago chasm.
If you want the APR, you need the iconv function and type in April as the nominal interest rate, 12 as C / Y and calculate EFF.
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