You have arranged for a loan on your new car that will require the first payment today.

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You have arranged for a loan on your new car that will require the first payment today. The loan is for $34,000, and the monthly payments are $645. If the loan will be paid off over the next 60 months, what is the APR of the loan?Year Cash Flow $1,900 2,300 4,500 5,100 1 3 4

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Essentials Of Corporate Finance

ISBN: 9780073382463

7th Edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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