Problem refer to the following ads. The ad for a Bison SUV claims that a monthly payment

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Problem refer to the following ads.

The ad for a Bison SUV claims that a monthly payment of $399 constitutes 0% financing. Explain why that is false. Find the annual interest rate compounded monthly that is actually being charged for financing $23,997 with 72 monthly payments of $399.

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College Mathematics For Business Economics, Life Sciences, And Social Sciences

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Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker

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Question Posted: Mar 22, 2022 12:41 AM

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Problem refer to the following ads. The ad for a Bison SUV claims that a monthly payment

Question:

2020 BISON SEDAN 2020 BISON SUV Zero down - 0% financing $299 per month* Zero down - 0% financing $399 per month* Buy for $17,485. Buy for $23,997. Bison sedan, 0% down, 0% for 72 months * Bison SUV, 0% down, 0% for 72 months

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The claim that a monthly payment of 399 constitutes 0 financing for a Bison SUV is false This is bec...View the full answer

College Mathematics For Business Economics, Life Sciences, And Social Sciences

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