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 5% interest for 48 months $ 2,523.44 Total $ 15,140.62 MONTHLY PAYMENT $ 315.43
What is the annual percentage rate? (Round your answer to one decimal place.)
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Principles Of Investments
Authors: Alan Marcus, Zvi Bodie, Michael Drew, Anup Basu, Alex Kane
1st Edition
0071012389, 978-0071012386
