Sunday, July 11, 2010

A student has a total of $4000 in student loans?

A student has a total of $4000 in student loans that will be paid with a 48 month installment loan with monthly payments of $98.59. What is the APR of the loan?

A student has a total of $4000 in student loans?
.70819%/month or 8.4983% annually


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