Question
You are buying a car. The one you have choosen to purchase is going to cost you $32,985. Your car salesman has told you
You are buying a car. The one you have choosen to purchase is going to cost you $32,985. Your car salesman has told you that you can purchase this vehicle for $525 per month for 72 months. What interest rate will you be paying? NPER IY (Rate) PV PMT FV Compounding Periods CPT (Compute)? 72 ? Note: For a Loan the Price is listed as PV Because the bank gives you the money in the beginning $32,985 FV is 0, because the loon will be paid off at the end 525 0 12 4.59%
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Get StartedRecommended Textbook for
Microeconomics Theory and Applications with Calculus
Authors: Jeffrey M. Perloff
3rd edition
133019934, 978-0133019933
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