Question

Technical
Question 19 of 30
The customer qualifies for an auto loan that lasts 5 years and charges 7 percent annual interest. He will repay the loan (including principal
and interest) once per month
Assuming that there is linear amortization of loan, what is the interest rate per month?
O 0.717
O 0.583
O 7
O 1.4​

Answer 1

it will be 00.7492

oo.6483

00.0001

012.3496