You are looking at a one-year loan of 18500 the interest, Ask an Expert

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You are looking at a one-year loan of $18,500. The interest rate on a one-year loan is quoted as 11.2 percent plus three points. What is the EAR of this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Effective annual rate %

Is your answer affected by the loan amount?

Affected

Not affected

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92746898

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