A loan of $1,070 was repaid at the end of 18 months with a check for $1,095 What annual rate of interest was charged? The annual rate of interest was charged at __% (Round to two decimal places as needed.)
A loan of $1,070 was repaid at the end of 18 months with a check for $1,095 What annual rate of interest was charged? The annual rate of interest was charged at __% (Round to two decimal places as needed.)
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
Related questions
Question
A loan of $1,070 was repaid at the end of 18 months with a check for $1,095 What annual rate of interest was charged?
The annual rate of interest was charged at __% (Round to two decimal places as needed.)
thanks!
appreciate it
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images
Recommended textbooks for you