What is the annual percentage rate (APR)?

to the nearest tenths places.

List price	$2,368.00
Options	$1,925.00
Destination charges	$400.00
Subtotal	$4,693.00
Tax	$410.64
Less trade-in	$1,932.00
Amount to be financed	$3,171.64
13% interest for 57 months
Total
MONTHLY PAYMENT

You want to financed a car that advertised at $31321 but you don't have money. However after checking your credit the dealer offered you that if you pay $552 per month for 5 years, they will give you the car. What is the total amount you will have to pay to the dealer if you finance the car?

 

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Answer rating: 100% (QA)

To calculate the annual percentage rate APR for the financing deal we can use the following formula ... View the full answer