You bought a new car with financing of $50,000 (i.e., you borrowed $50,000). They allow you to

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You bought a new car with financing of $50,000 (i.e., you borrowed $50,000). They allow you to pay back in monthly installments of $1,528 for three years. What is the effective annual rate (EAR) that they are charging you?

Posted Date: May 10, 2024 02:32 AM

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You bought a new car with financing of $50,000 (i.e., you borrowed $50,000). They allow you to

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