Question
A car dealer carries out the following calculations. List price $ 15,428.00 Options $ 3,625.00 Destination charges $ 350.00 Subtotal $ 19,403.00 Tax $ 1,164.18
A car dealer carries out the following calculations. List price $ 15,428.00 Options $ 3,625.00 Destination charges $ 350.00 Subtotal $ 19,403.00 Tax $ 1,164.18 Less trade-in $ 7,950.00 Amount to be financed $ 12,617.18 9% interest for 48 months $ 4,542.18 Total $ 17,159.36 MONTHLY PAYMENT $ 357.49 What is the annual percentage rate? (Round your answer to one decimal place.)
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Guardians Of Finance
Authors: James R. Barth, Gerard Caprio, Ross Levine
1st Edition
0262526840, 978-0262526845
