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this example involves the Rule of 78. if you solve this by creating an excel document that would be helpful. I am having trouble calculating r*.Example 5.19: A 6-year car loan charges flat rate at 2.5% per annum, to be repaid by a monthly annuity-due. Calculate the ENRwhere A and B are given in (5.13) and (5.17), respectively, Solving the abe equation for various values of k we obtain the fo

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alu- loan is for 6 years (12 months) rate = 2.5% per annum Lo, monthly rate ENR for the value will be mint xvI+Q5) 12**HocomsFind the solution as below.

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