Page 1 of 1
The First Bank of Lending lists the following APR for loans. Determine the APY, or effective interest rate, for a loan a
Posted: Mon Jul 11, 2022 10:28 am
by answerhappygod
- The First Bank Of Lending Lists The Following Apr For Loans Determine The Apy Or Effective Interest Rate For A Loan A 1 (16.87 KiB) Viewed 29 times
The First Bank of Lending lists the following APR for loans. Determine the APY, or effective interest rate, for a loan amount that is between $20,000 and 599,999. Round your answer to the nearest hundredth, if necessary. First Bank of Lending Loan APR Loan Amount <$20,000 $20,000-$99,999 > $99,999 APR 12.25 % 9.99 % 6.75% interest rates are compounded quarterly