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You are interested in purchasing a new automobile that costs $38.000. The dealership offers you a special financing rate of 0.35% per month (4.20% APR
You are interested in purchasing a new automobile that costs $38.000. The dealership offers you a special financing rate of 0.35% per month (4.20% APR compounded monthly) for 48 months. Assuming that you do not make a down payment on the auto and you take the dealer's financing deal, then your monthly car payments would be closest to: O $841.10 O $861.41 O $847.70 O 5832.81 On the day Harry was born, his parents put $1.500 into an investment account that promises to pay a fixed interest rate of 4% per year. How much money will Harry have in this account when he turns 18? $3.107.64 $2.854.34 O $2.768.45 $3.038.72 Your home mortgage loan has an initial balance of $400.000. The loan is to be paid off in exactly 30 years, with monthly payments of $2,500. What is the interest rate (as annual percentage rate. APR) on this loan? Hint: First, solve for the loan's monthly interest rate. Then, multiply this monthly interest rate by 12 to find the APR. O 3.29% 04.39% 6.39 8.76%
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