You want to borrow $74,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,500

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answerhappygod
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You want to borrow $74,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,500

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You Want To Borrow 74 000 From Your Local Bank To Buy A New Sailboat You Can Afford To Make Monthly Payments Of 1 500 1
You Want To Borrow 74 000 From Your Local Bank To Buy A New Sailboat You Can Afford To Make Monthly Payments Of 1 500 1 (19.69 KiB) Viewed 34 times
You want to borrow $74,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,500, but no more. Assuming monthly compounding, what is the highest rate you can afford on a 60-month APR loan? (Do not round intermediate calculations and and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Interest rate %
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