Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

MY NOTES ASK YOUR TEACHER 16. ( -/1 POINTS SMITHNM13 11.2.053. 0/6 Submissions Used For the car loan described, give the following information. A car

image text in transcribed

MY NOTES ASK YOUR TEACHER 16. ( -/1 POINTS SMITHNM13 11.2.053. 0/6 Submissions Used For the car loan described, give the following information. A car dealer will sell you a used car for $6,298 with $798 down and payments of $168.51 per month for 48 months. (a) amount to be paid (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) yo (d) APR (rounded to the nearest tenth of a percent) % Need Help? Reall To Top 17. 0/1 POINTS || PREVIOUS ANSWERS SMITHNM13 11.2.054. 1/6 Submissions Used MY NOTES || ASK YOUR TEACHER For the car loan described, give the following information. A car dealer will sell you the $30,850 car of your dreams for $6,000 down and payments of $662.06 per month for 60 months. (a) amount to be paid $ 46083.60 x (b) amount of interest $15233.60 x (c) interest rate (Round your answer to two decimal places.) 0.09 (d) APR (rounded to the nearest tenth of a percent) 18 x % Need Help? Read a Tutor

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing An International Approach

Authors: Bahram Soltani

1st Edition

9780273657736

More Books

Students also viewed these Accounting questions

Question

OUTCOME 1 Explain the reasons for equity-related legislation.

Answered: 1 week ago