Jerry N.

asked • 12/14/20

Find i​ (the rate per​ period) and n​ (the number of​ periods) for the following loan at the given annual rate.

Find i​ (the rate per​ period) and n​ (the number of​ periods) for the following loan at the given annual rate.

Annual payments of ​$4,700 are made for 11 years to repay a loan at 4.85​% compounded annually.


i= ______- ​(Type an integer or a​ decimal.)


n = ________-

1 Expert Answer

By:

Still looking for help? Get the right answer, fast.

Ask a question for free

Get a free answer to a quick problem.
Most questions answered within 4 hours.

OR

Find an Online Tutor Now

Choose an expert and meet online. No packages or subscriptions, pay only for the time you need.