A $133500 loan is repaid by 20 payments of $6500 each at the begin of quarter,followed by 17 payments of $5800 each at the begin of quarter. What interestrate il is being charged ?Answer: 14.06%

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followed by 17 payments of $5800 each at the begin of quarter. What interest rate il is being charged ? Answer: 14.06%

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter19: Lease And Intermediate-term Financing

Section: Chapter Questions

Problem 18P

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A $133500 loan is repaid by 20 payments of $6500 each at the begin of quarter,
followed by 17 payments of $5800 each at the begin of quarter. What interest
rate il is being charged ?
Answer: 14.06%

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