You want to buy a new sports coupe for $84,500, and the finance office at the dealership

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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 4.7 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?

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Fundamentals Of Corporate Finance

ISBN: 9781265553609

13th Edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Aug 24, 2021 04:54 AM

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You want to buy a new sports coupe for $84,500, and the finance office at the dealership

Question:

Step by Step Answer:

a Loan amount 84500 APR 47 Monthly interest rate 4712 0391667 Number of monthly payments 60 As per f...View the full answer

Fundamentals Of Corporate Finance

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