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You have arranged for a loan on your new car that will require the first payment today. The loan is for $40,500, and the monthly
You have arranged for a loan on your new car that will require the first payment today. The loan is for $40,500, and the monthly payments are $710. Required: If the loan will be paid off over the next 73 months, what is the APR of the loan? (Round your answer as directed, but do not use rounded numbers n intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) APR %
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