Business, 24.10.2019 05:00 LuluMathLover101

Alocal finance company quotes an interest rate of 17.1 percent on one-year loans. so, if you borrow $20,000, the interest for the year will be $3,420. because you must repay a total of $23,420 in one year, the finance company requires you to pay $23,420/12, or $1,951.67, per month over the next 12 months. is the interest rate on this loan 17.1 percent?

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Alocal finance company quotes an interest rate of 17.1 percent on one-year loans. so, if you borrow...

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