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help An auto dealership is advertising that a new car with a sticker price of $34,488 is on sale for $25,995 if payment is made
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An auto dealership is advertising that a new car with a sticker price of $34,488 is on sale for $25,995 if payment is made in full, or it can be financed at ow, interest for 72 months with a monthly payment of $479. Note that 72 payments $479 per payment =534,488, which is the sticker price of the car. By allowing you to pay for the car in a series of payments (starting one month from now) rather than $25,995 now, the dealer is effectively loaning you 325.995. If current dollars, and user Goal Seek to find the discount rate that makes the net present value of the payments = 325,995. Enter your answer as a percentage. If required, round your answer to one decimal digit Step by Step Solution
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