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Loan amount = $10,000 Monthly payments = $258.50 Time of loan contract = 5 years True annual interest rate (to the nearest tenth) =

Loan amount = $10,000 Monthly payments = $258.50 Time of loan contract = 5 years True annual interest rate (to the nearest tenth) =
asked 158k views
5 votes
Loan amount = $10,000 Monthly payments = $258.50 Time of loan contract = 5 years True annual interest rate (to the nearest tenth) =

asked
User Zhambulable
by
7.9k points

1 Answer

5 votes

True annual interest rate rounded to the nearest tenth is 21.7%

hope this helps!

answered
User Joyson
by
7.7k points
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