Question
You take out a $7,600 car loan that requires 60 monthly payments of $200 each. A. What is the APR of the loan? (Do not
| You take out a $7,600 car loan that requires 60 monthly payments of $200 each. |
| A. | What is the APR of the loan? (Do not round up intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places. Use a financial calculator or Excel.) |
| Nisan | % |
| B. | What is the effective annual interest rate of the loan? (Do not round up intermediate calculations. Enter your answer as a percentage, rounded to 2 decimal places.) |
| EAR | % |
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Fundamentals of Corporate Finance
Authors: Richard Brealey, Stewart Myers, Alan Marcus
7th edition
978-0077616472, 77616472, 78034647, 978-0071314749, 71314741, 978-0078034640
