A loan of £5,000 is to be repaid by level monthly instalments in arrear over a period of five years, the flat rate of interest for this transaction being 4.7% per annum. APR of the transaction is...


A loan of £5,000 is to be repaid by level monthly instalments in<br>arrear over a period of five years, the flat rate of interest for<br>this transaction being 4.7% per annum. APR of the transaction<br>is<br>Select one:<br>a. 7.13%<br>O b. 9.54%<br>O c. 6.45%<br>d. 5.16%<br>e. 8.9%<br>

Extracted text: A loan of £5,000 is to be repaid by level monthly instalments in arrear over a period of five years, the flat rate of interest for this transaction being 4.7% per annum. APR of the transaction is Select one: a. 7.13% O b. 9.54% O c. 6.45% d. 5.16% e. 8.9%

Jun 11, 2022
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