You want to buy a new sports coupe for $84,500, and the finance office at the dealership

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You want to buy a new sports coupe for $84,500, and the finance office at the dealership has quoted you an APR of 5.2 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: 978-1260153590

12th edition

Authors: Stephen M. Ross, Randolph W Westerfield, Robert R. Dockson, Bradford D Jordan

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Question Posted: Jul 17, 2019 09:15 AM

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You want to buy a new sports coupe for $84,500, and the finance office at the dealership

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The time line is We first need to find the annuity payment We have the P...View the full answer

Fundamentals of Corporate Finance

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