金融题,利率计算
问题描述：
金融题,利率计算
You want to borrow 50 000 from your local bank ti buy a new yacht.You can afford to make monthly payments of 1300,but no more.Assuming monthly compounding,what is the highest rate you can afford on a sixty-month APR loan?
我列了方程但求不出,help!请高手解题同时说明下为什么.
答
好久不做这种题了,所以答案不确定对不对,就当是个参考吧.
50000（1+r）^60=1300*60
r=0.74%
5万的现值到期末要不大于60个月每月付1300（题中说过but no more）,所以用连续复利公式来计算这个60个月的最高利息,最后得出每个月的APR不高于0.74%