Question
You finance the purchase of a $104,880 Porsche 911 Carrera Coupe for $1,199 per month for 36 months plus $7,199 down today and an additional
- You finance the purchase of a $104,880 Porsche 911 Carrera Coupe for $1,199 per month for 36 months plus $7,199 down today and an additional final payment of $65,025.60 at the end of the 36 months. Here is a timeline of your financing cash flows:
| Date | 0 | 1 | 2 | ... | 35 | 36 |
Cash Flow | $104,880 | -$1,199 | -$1,199 | ... | -$1,199 | -$1,199 |
What is the APR on this financing arrangement?
You finance the purchase of a $104,880 Porsche 911 Carrera Coupe for $1,199 per month for 36 months plus $7,199 down today and an additional final payment of $65,025.60 at the end of the 36 months. Here is a timeline of your financing cash flows:
| Date | 0 | 1 | 2 | ... | 35 | 36 |
Cash Flow | $104,880 | -$1,199 | -$1,199 | ... | -$1,199 | -$1,199 |
What is the APR on this financing arrangement?
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Financial Accounting A User Perspective
Authors: Robert E Hoskin, Maureen R Fizzell, Donald C Cherry
6th Canadian Edition
470676604, 978-0470676608
