1 answer

Find i (the rate per period) and n (the number of periods) for the following loan...

Question:

Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Annual payments o
Find i (the rate per period) and n (the number of periods) for the following loan at the given annual rate. Annual payments of $3,900 are made for 10 years to repay a loan at 8.8% compounded annually. 1 = (Type an integer or a decimal.)

Answers

16 years to repay a loan at 7.9% compounded annually

i = 0.088 ( compounded annually)

n = 10*12 = 120

# i=0.088

n=120

.

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