You want to buy a new sports coupe for $75,200, and the finance office at the dealership has quoted you a loan with an APR of 7.6 percent for 48 months to buy the car.
Requirement 1: What will your monthly payments be? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e. g., 32.16).)
Monthly payment $ ?
Requirement 2:
What is the effective annual rate on this loan? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e. g., 32.16).)
Effective annual rate % ?
Answers: 2
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You want to buy a new sports coupe for $75,200, and the finance office at the dealership has quoted...
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