SOLUTION: A loan is being repaid with 10 installments. The principal portion of the seventh payment is $110.25 and the interest portion is $39.75. What annual effective rate of interest is b
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Question 862804: A loan is being repaid with 10 installments. The principal portion of the seventh payment is $110.25 and the interest portion is $39.75. What annual effective rate of interest is being charged? My book has the answer of 8%. GOD BLESS YOU!
Answer by Alan3354(69443) (Show Source): You can put this solution on YOUR website!
If you want help from god, ask for it (and good luck with that).
If you want help with math, there's no need to mention god(s).
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