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A used car dealer advertises financing at 4% interest over 3 years with monthly payments. You must pay a processing fee of $500 at signing.
A used car dealer advertises financing at 4% interest over 3 years with monthly payments. You must pay a processing fee of $500 at signing. The car you like costs $9000 (a) What is your effective annual interest rate? (b) You believe that the dealer would accept $8200 if you paid cash. What effective annual interest rate would be paying if you financed with the dealer
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Financial Management Of Health Care Organizations
Authors: William N. Zelman, Michael J. McCue, Alan R. Millikan, Noah D. Glick
2nd Edition
063123098X, 9780631230984
