What is the nominal annual rate of interest compounded annually on a lease valued at $31,100, if payments of $1,500 are made at the beginning of every three months for 6 years?
The nominal annual rate of interest is ______ %. (Round to two decimal places as needed.)

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13-06-2024
Business

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What is the nominal annual rate of interest compounded annually on a lease valued at $31,100, if payments of $1,500 are made at the beginning of every three months for 6 years?
The nominal annual rate of interest is ______ %. (Round to two decimal places as needed.)

Sagot :

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