Question
You are going to buy a new car worth $23,500. The dealer computes your monthly payment to be $516.55 for 60 months of financing. What
You are going to buy a new car worth $23,500. The dealer computes your monthly payment to be $516.55 for 60 months of financing. What is the dealer's effective rate of return on this loan transaction?
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Corporate Financial Management
Authors: Glen Arnold, James Pickford
2nd Edition
0582821762, 978-0582821767
