5000. She can borrow from a finance company at 6.90% add-on interest for 4 years. Or she can borrow from a credit union (48 monthly payments of $134.14 each.) Find each APR and determine the better choice. 10.0 APR 10.5 APR 11.0 APRI 11.5 APR 12.0 APR 12.5 APR # of monthly payments (n) 24 36 48 60 10.75 16.16 21.74 27.48 11.30 17.01 22.90 28.96 11.86 17.86 24.06 30.45 12.42 18.71 25.23 31.96 Use the table to find the APR for the finance company loan.% (Round to the nearest half percent.) Use the table to find the APR for the credit union loan. % (Round to the nearest half percent.) Which is the better choice? 12.98 19.57 26.40 33.47 13.54 20.43 27.58 34.99 13.0 APR 14.10 21.30 28.77 36.52

5000. She can borrow from a finance company at 6.90% add-on interest for 4 years. Or she can borrow from a credit union (48 monthly payments of $134.14 each.) Find each APR and determine the better choice. 10.0 APR 10.5 APR 11.0 APRI 11.5 APR 12.0 APR 12.5 APR # of monthly payments (n) 24 36 48 60 10.75 16.16 21.74 27.48 11.30 17.01 22.90 28.96 11.86 17.86 24.06 30.45 12.42 18.71 25.23 31.96 Use the table to find the APR for the finance company loan.% (Round to the nearest half percent.) Use the table to find the APR for the credit union loan. % (Round to the nearest half percent.) Which is the better choice? 12.98 19.57 26.40 33.47 13.54 20.43 27.58 34.99 13.0 APR 14.10 21.30 28.77 36.52

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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