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You want to buy a new sports coupe for $92,500, and the finance office at the dealership has quoted you an APR of 74 percent for a 60 month loan to buy the car
a. What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e. g., 32.16.
b. What is the effective annual rate on this loan? (Do not round intermediate celculations. Enter your answer as a percent rounded to 2 decimal places, e. g. 32.16.)
a. Monthly payment
b. Effective annual rate
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Answers: 2
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You want to buy a new sports coupe for $92,500, and the finance office at the dealership has quoted...
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