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Could I have this done through Excel please ? 7- A used car dealer advertises financing at 0% interest over 3 years with monthly payments.
Could I have this done through Excel please?
7- A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $500 at 41 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 you be paying, if you financed with the dealerStep by Step Solution
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