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Hi, I'm working on my Accounting331 question: The dealer is offering a promotion on the car in the picture that says you pay 72 month
Hi, I'm working on my Accounting331 question: The dealer is offering a promotion on the car in the picture that says you pay 72 month equal installment payments of $500. The market interest rate for a 6-year car loan is 3.5%. What is the actual selling price of this car? I have a confusion that "The market interest rate for a 6-year car loan is 3.5%" should i devide 3.5% by 72 month?
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