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Fast Freddie's Used Cars will sell you a 2 0 1 2 Volkswagen Jetta for $ 5 , 0 0 0 with no money down,
Fast Freddie's Used Cars will sell you a Volkswagen Jetta for $ with no money down, if you make weekly payments of $ for two years, beginning one week after you buy the car. Is this a good financing deal? Figure out the effective annual rate EAR of this loan. Hint: First figure out the interest rate r and then find the EAR. Note that the r you calculate is the weekly interest rate
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