Phalanndwachris672 Phalanndwachris672
  • 13-07-2017
  • Business
contestada

Ms. smith borrowed $2,000 at an 8% stated rate of interest and was to pay back the loan in 24 monthly payments. what is her effective rate of interest using the installment loan formula?

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bbronze22 bbronze22
  • 14-07-2017
What are your options
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wigginesa wigginesa
  • 21-03-2021

Answer: 15.4%

Explanation:

15.4%

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