How is annual interest rate figured?

DON	How is annual interest rate figured? I am looking at an amortization schedule for a loan of $20000 at 6% for 48 months. When I calculate the interest on monthly payments I do not come up with 6% any where. Answer Question

0 in Banking Report

Answer this question

by Anonymous - Already have an account? Login now!

Your Name: Your Name is required.

Your Answer: Answer is required.

Source(s): (optional)

Enter the text you see in the image below

What do you see?

Can't read the image? View a new one.

Your answer will appear after being approved.