Homework: Sec. 3.4: Present Value of an Annunity; Amortizati Score: 0 of 1 pt 15 of 20 (11 complete) 3.4.37-BE NEW 4-DOOR SEDAN! The ad for a 4-door sedan claims that a monthly payment of $299 constitutes 0% financing. Explain why that is false. Find the annual interest rate compounded monthly that is actually being charged for financing $17,495 with 72 monthly payments of $299. Zero down - 0% financing $299 per month* Buy for $17,495. *4-door sedan, 0% down, 0% for 72 months not $299. The advertisement is false, because for 0% financing, the monthly payments should be $ (Round to the nearest cent as needed.)