13. 0.5/1 POINTS | PREVIOUS ANSWERS SMITHNM13 11.2.046.3/6 Submissions Used MY NOTES ASK YOUR TEACHERY Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $36,850 with factory and dealer rebates of $4,200 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) (b) Find the monthly payment if financed at 2.5% add-on interest for 60 months. (Round your answer to the nearest cent.) (c) Use the APR approximation formula to find the APR for part (b). (Round your answer to one decimal place.) % (d) State whether the 0% APR or the 2.5% add-on rate should be preferred. 0% APR 2.5% add-on rate Need Help? Read It Talk to a Tutor 14. -/1 POINTS SMITHNM13 11.2.051. 0/6 Submissions Used MY NOTES ASK YOUR TEACHER For the car loan described, give the following information. A newspaper advertisement offers a $9,000 car for nothing down and 36 easy monthly payments of $347.50. (a) amount to be paid (b) amount of interest (c) interest rate (d) APR (rounded to the nearest tenth of a percent) % Need Help? Read The Tudor 13. 0.5/1 POINTS | PREVIOUS ANSWERS SMITHNM13 11.2.046.3/6 Submissions Used MY NOTES ASK YOUR TEACHERY Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of $36,850 with factory and dealer rebates of $4,200 (a) Find the monthly payment if financed for 60 months at 0% APR. (Round your answer to the nearest cent.) (b) Find the monthly payment if financed at 2.5% add-on interest for 60 months. (Round your answer to the nearest cent.) (c) Use the APR approximation formula to find the APR for part (b). (Round your answer to one decimal place.) % (d) State whether the 0% APR or the 2.5% add-on rate should be preferred. 0% APR 2.5% add-on rate Need Help? Read It Talk to a Tutor 14. -/1 POINTS SMITHNM13 11.2.051. 0/6 Submissions Used MY NOTES ASK YOUR TEACHER For the car loan described, give the following information. A newspaper advertisement offers a $9,000 car for nothing down and 36 easy monthly payments of $347.50. (a) amount to be paid (b) amount of interest (c) interest rate (d) APR (rounded to the nearest tenth of a percent) % Need Help? Read The Tudor