Respuesta :
Answer:
12.15%
Explanation:
The interest rate on the loan is the rate that solves the equation
[tex]P=\frac{A_{1} }{1+r} +\frac{A_{2}}{(1+r)^{2} } +\frac{A_{3}}{(1+r)^{3} }[/tex]
Where P = loan amount
A = the annual repayment for each year
r = the interest rate
[tex]2,000,000=\frac{219,000 }{1+r} +\frac{219,000}{(1+r)^{2} } +\frac{2,300,000}{(1+r)^{3} }[/tex]
Using interpolation or a financial calculator, the rate that solves the equation is 12.148504% = 12.15%.
