Assume that you are going to buy a new car for $25,000. You will be able to
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Assume that you are going to buy a new car for $25,000. You will be able to make a down payment of $3,000. The remaining $22,000 will be financed by the dealer. The dealer computes your monthly payment to be $547.47 for 48 months of financing. What is the dealer’s annual rate of return on this car loan?
DealerA dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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