Question
You have just purchased a car and, to fund the purchase, you borrowed $21,500. If your monthly payments are $330.16 for the next 7 years,
You have just purchased a car and, to fund the purchase, you borrowed $21,500. If your monthly payments are $330.16 for the next 7 years, what is the APR of the loan?
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Answer APR 7536 Amount borrowed 21500 Monthly payment 33016 ...
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Corporate Finance
Authors: Jonathan Berk and Peter DeMarzo
3rd edition
978-0132992473, 132992477, 978-0133097894
