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Answer to Question #98030 in Finance for Amanda

Question #98030
Mike is offered a loan of $20,200 that requires 60 monthly payments of $427.21.

What is the effective annual interest rate on this loan? what would be the quoted rate?
1
Expert's answer
2019-11-07T09:56:46-0500
Dear Amanda , your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

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