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For the car loan described, give the following information. A car dealer will sell you the $30,150 car of your dreams for $6,000 down and payments of $669.06 per month for 60 months. (a) amount to be paid $ 24150 (b) amount of interest $ 15993.60 (c) interest rate (Round your answer to two decimal places.) 1.84 X % (d) APR (rounded to the nearest tenth of a percent) 22.08 x %

For the car loan described, give the following information. A car dealer will sell you the $30,150 car of your dreams for $6,000 down and payments of $669.06 per month for 60 months. (a) amount to be paid $ 24150 (b) amount of interest $ 15993.60 (c) interest rate (Round your answer to two decimal places.) 1.84 X % (d) APR (rounded to the nearest tenth of a percent) 22.08 x %

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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For the car loan described, give the following information. A car dealer will sell you the $30,150 car of your dreams for $6,000 down and payments of $669.06 per month for 60 months. (a) Amount to be paid: $24,150 ❌ (b) Amount of interest: $15,993.60 ✔️ (c) Interest rate (Round your answer to two decimal places.): 1.84% ❌ (d) APR (rounded to the nearest tenth of a percent): 22.08% ❌ In this exercise, calculations are needed to determine the total amount paid over the life of the loan, the amount of interest paid, and the accurate interest rate and APR. The checked and crossed marks indicate whether the given answers were correct.
Transcribed Image Text:For the car loan described, give the following information. A car dealer will sell you the $30,150 car of your dreams for $6,000 down and payments of $669.06 per month for 60 months. (a) Amount to be paid: $24,150 ❌ (b) Amount of interest: $15,993.60 ✔️ (c) Interest rate (Round your answer to two decimal places.): 1.84% ❌ (d) APR (rounded to the nearest tenth of a percent): 22.08% ❌ In this exercise, calculations are needed to determine the total amount paid over the life of the loan, the amount of interest paid, and the accurate interest rate and APR. The checked and crossed marks indicate whether the given answers were correct.
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