question archive Albert takes out a loan of $30,000, and is required to pay back with a pay- ment of $20,000 at the end of the second year, and $11,000 at the end the fourth year
Albert takes out a loan of $30,000, and is required to pay back with a pay- ment of $20,000 at the end of the second year, and $11,000 at the end the fourth year
Subject:FinancePrice: Bought3
Albert takes out a loan of $30,000, and is required to pay back with a pay- ment of $20,000 at the end of the second year, and $11,000 at the end the fourth year. Interest is payable quarterly. What is the nominal rate of interest charged on the loan?
