A car can be purchased for 0% down for 60 months (in lieu of rebate). It has a sticker price of $62,570 with rebates of $6000. what is the monthly payment if financed at 2.5% add-on interest for 60 months (round to the nearest cent) and using the APR approximation formula what is the APR (round to one decimal place)
A car can be purchased for 0% down for 60 months (in lieu of rebate). It has a sticker price of $62,570 with rebates of $6000. what is the monthly payment if financed at 2.5% add-on interest for 60 months (round to the nearest cent) and using the APR approximation formula what is the APR (round to one decimal place)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A car can be purchased for 0% down for 60 months (in lieu of rebate). It has a sticker price of $62,570 with rebates of $6000.
what is the monthly payment if financed at 2.5% add-on interest for 60 months (round to the nearest cent) and using the APR approximation formula what is the APR (round to one decimal place)
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