15.) Find the APR to the nearest half-percent on a $3700 loan that is repaid at 7% add-on interest over 30 months.

Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
6th Edition
ISBN:9781337111348
Author:Bruce Crauder, Benny Evans, Alan Noell
Publisher:Bruce Crauder, Benny Evans, Alan Noell
ChapterP: Prologue: Calculator Arithmetic
Section: Chapter Questions
Problem 2TU: If the annual percentage rate is 8% and the interest is compounded monthly, what is the amount owed...
icon
Related questions
Question
15.) Find the APR to the nearest half-percent on a $3700 loan that is repaid at 7% add-on
interest over 30 months.
Transcribed Image Text:15.) Find the APR to the nearest half-percent on a $3700 loan that is repaid at 7% add-on interest over 30 months.
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Recommended textbooks for you
Functions and Change: A Modeling Approach to Coll…
Functions and Change: A Modeling Approach to Coll…
Algebra
ISBN:
9781337111348
Author:
Bruce Crauder, Benny Evans, Alan Noell
Publisher:
Cengage Learning