You want to buy a new sports coupe for $84,500, and the finance office at the...
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You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 6.6 percent for a 48 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 calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) |
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Problem 6-20 Calculating Loan Payments (LO2, 4) You want to buy a new sports coupe for...
Problem 6-20 Calculating Loan Payments (LO2, 4) You want to buy a new sports coupe for $87.500, and the finance office at the dealership has quoted you an APR of 6.9 percent for a 48 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 calculations. Enter your...
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Question 10 1 pts You want to buy a new sports coupe for $71,426, and the...
Question 10 1 pts You want to buy a new sports coupe for $71,426, and the finance office at the dealership has quoted you a loan with an APR of 7.41 percent for 58 months to buy the car. What will your monthly payments (in $) be? Answer to two decimals.
You want to buy a new sports coupe for $78,500, and the finance office at the dealership has quoted you an APR of 6 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 calculations. Enter your answer as a percent rounded to 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 you an APR of 74 percent for a 60 month loan to buy the car to 2 decimal places, e.g., 32.16) Monthly payment What is the effective annual rate on this loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Effective annual rate
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Problem 6-20 Calculating Loan Payments (LO2, 4) You want to buy a new sports coupe for $87.500, and the finance office at the dealership has quoted you an APR of 6.9 percent for a 48 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 calculations. Enter your...
Question 10 1 pts You want to buy a new sports coupe for $71,426, and the finance office at the dealership has quoted you a loan with an APR of 7.41 percent for 58 months to buy the car. What will your monthly payments (in $) be? Answer to two decimals.
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