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1 3 . I want to buy a car. I pay $ 5 0 6 per month for five years. The quoted APR is 6
I want to buy a car. I pay $ per month for five years. The quoted APR is How much did I pay for the car? If the best offer was $ per month from the dealership, how much did they want for the car? What is the balance on the loan after
years, if I made every $ payment on time? How much of payment is interest? How much goes to principal? If I make payments of $ per month, how long will it take me to pay off the loan? If the quoted APR on my credit card is what is the effective annual rate I am paying if the compounding period is monthly? Daily?
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