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Posted on Sep 21, 2024

Assume you take out a car loan of $ 8 , 9 0 0 that calls for 4 8 monthly payments of $ 3 3

Assume you take out a car loan of $

8, 900

that calls for

48

monthly payments of $

330

each.

What is the APR of the loan?

What is the effective annual interest rate on the loan?

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