Question
You want to buy a new car for $52,350 and the finance office at the dealership quotes you a 12.3% annual percentage rate for 60
You want to buy a new car for $52,350 and the finance office at the dealership quotes you a 12.3% annual percentage rate for 60 months to buy the car; the first payment is in one month, Find the effective annual rate on this loan
THE ANSEWR IS 13.02%
I WANT KNOW HOW HE GET THIS ANSEWR
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Corporate Financial Management
Authors: Julian Ralph Franks, Harry H. Scholefield
2nd Edition
0566020548, 978-0566020544
