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Answe is 14.41%. I need detailed explanation of why. You borrow $36,000 for a new car. Your loan is for 3 years at a stated

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Answe is 14.41%. I need detailed explanation of why.

You borrow $36,000 for a new car. Your loan is for 3 years at a stated rate of 6.3%. What is the APR on this loan If you make monthly payment and your upfront closing cost are $4,000

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