Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. celeste just borrowed 38,200 dollars. she plans to

Celeste just borrowed 38,200 dollars. She plans to repay this loan by making equal quarterly...

70.2K

Verified Solution

Question

Finance

image

Celeste just borrowed 38,200 dollars. She plans to repay this loan by making equal quarterly payments of 3,426.93 dollars for 12 quarters. If she makes her first quarterly payment later today, then what is the quarterly interest rate on the loan? Answer as a rate in decimal format so that 12.34% would be entered as . 1234 and 0.98% would be entered as .0098. Number

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Accounting
1.2K views

Question 1 The Kingsmill Furniture Company sells its products, offering 30 days’ credit to its customers. Uncollectible...

Biology
1.2K views

Birds have key adaptations that reduce body and power1. Birds (Aves) appeared in the Jurassic...

Physics
1.2K views

16 Breaking stress of a steel wire of radius 1 mm and length 1 m...

Physics
1.2K views

A uniform rod of length 6m is hanged vertically from one end and given a...

Geometry
1.2K views

Find the area of the sector created below Round to the nearest tenth 120 4...

Basic Math
1.2K views

Tara owns a pizza shop. The item purchased most frequently from her shop is a...

Statistics
1.2K views

The table shows the worldwide box office in billions of dollars for the movie industry...

Accounting
1.2K views

Manually calculate the compound interest on an investment of $5,250 at 8% interest...

Accounting
1.2K views

-1 Accounting Part 3 Audit Working Papers (25 points) working Indicate and briefly discuss any...

Accounting
1.2K views

Appendix B Homework Saved Help 2 Exercise B-9 (Algo) Present value of an annuity LO...

Accounting
1.2K views

Target Corporation prepares its financial statements according to U.S. GAAP. Targets financial statements and disclosure...

Finance
1.2K views

D Question 4 5 pts Baxter International has an EPS of $2.80, a book value...