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6 months ago, you acquired a brandnew SUV, opng for financing due to limited cash reserves at the me. The financing amount was $25000, structured
6 months ago, you acquired a brandnew SUV, opng for financing due to limited cash reserves at the me. The financing amount was $25000, structured over a 60month term with equal monthly installments of $800. a) Determine the Annual Percentage Rate (APR) for this financing arrangement. b) Calculate the Effecve Annual Rate (EAR) associated with this loan. c) Determine the total interest paid in the inial 6 months of the financing term. d) Compute the aggregate interest expense over the full 60month loan duraon. e) If you choose to sele the loan in full right aer the sixth installment, what would the payoff amount be
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