Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the APR on a 4 8 - month loan on an $ 1 8 , 0 0 0 car, if you put $

What is the APR on a 48-month loan on an $18,000 car, if you put $3000 down payment and the monthly payments are $373.28
use this formula
APR =2mc -: (N+1)P \times 100

Step by Step Solution

There are 3 Steps involved in it

Step: 1

To calculate the Annual Percentage Rate APR for a loan where ... 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

Personal Financial Planning

Authors: Lawrence J. Gitman, Michael D. Joehnk, Randy Billingsley

12th Edition

1439044473, 978-1439044476

More Books

Students also viewed these Finance questions

Question

the marketing of sport and adventure tourism; and

Answered: 1 week ago