You take out a $7,600 car loan that requires 60 monthly payments of $200 each. A. What

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You take out a $7,600 car loan that requires 60 monthly payments of $200 each.

A.	What is the APR of the loan? (Do not round up intermediate calculations. Enter your answer as a percentage rounded to 2 decimal places. Use a financial calculator or Excel.)

Nisan

%

B.	What is the effective annual interest rate of the loan? (Do not round up intermediate calculations. Enter your answer as a percentage, rounded to 2 decimal places.)

EAR

%

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Fundamentals of Corporate Finance

Fundamentals of Corporate Finance

ISBN: 978-0078034640

7th edition

Authors: Richard Brealey, Stewart Myers, Alan Marcus

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Posted Date: Mar 21, 2023 01:53 AM

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