You want to buy a new sports coupe for $79,500, and the finance office at the dealership

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You want to buy a new sports coupe for $79,500, and the finance office at the dealership has quoted you an APR of 5.8 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?

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Fundamentals of Corporate Finance

ISBN: 978-0077861704

11th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Question Posted: Nov 21, 2016 08:14 AM

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You want to buy a new sports coupe for $79,500, and the finance office at the dealership

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The time line is 0 1 60 79500 C C C C C C C C C We first need to find the annuity paymen...View the full answer

Fundamentals of Corporate Finance

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