A car dealer carries out the following calculations. List price $ 15,428.00 Options $ 3,625.00 Destination charges
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A car dealer carries out the following calculations.
List price | $ | 15,428.00 |
Options | $ | 3,625.00 |
Destination charges | $ | 350.00 |
Subtotal | $ | 19,403.00 |
Tax | $ | 1,164.18 |
Less trade-in | $ | 7,950.00 |
Amount to be financed | $ | 12,617.18 |
9% interest for 48 months | $ | 4,542.18 |
Total | $ | 17,159.36 |
MONTHLY PAYMENT | $ | 357.49 |
What is the annual percentage rate? (Round your answer to one decimal place.)
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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