interesthelp
New member
- Joined
- Oct 7, 2006
- Messages
- 2
(1+.10/48)^48-1
is this the correct formula to find the effective annual interest rate on a 10 percent 8,000 dollar loan over 48 months?
is this the correct formula to find the effective annual interest rate on a 10 percent 8,000 dollar loan over 48 months?