Red Lizard Construction just borrowed $53,600.00. The terms of loan payment is $600.00, then what is the EAR of the loan? O A rate less than 10.44% or a rate greater than 14.72% O A rate equal to or greater than 12.43% but less than 13.86% O A rate equal to or greater than 10.44% but less than 11.06% O A rate equal to or greater than 11.06% but less than 12.43% A rate equal to or greater than 13.86% but less than 14.72%
Red Lizard Construction just borrowed $53,600.00. The terms of loan payment is $600.00, then what is the EAR of the loan? O A rate less than 10.44% or a rate greater than 14.72% O A rate equal to or greater than 12.43% but less than 13.86% O A rate equal to or greater than 10.44% but less than 11.06% O A rate equal to or greater than 11.06% but less than 12.43% A rate equal to or greater than 13.86% but less than 14.72%
Chapter4: Time Value Of Money
Section4.17: Amortized Loans
Problem 1ST
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