First America Banks monthly payment charge on a 48-month, $22,000 loan is $588.26. The U.S. Banks monthly

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First America Bank’s monthly payment charge on a 48-month, $22,000 loan is $588.26. The U.S. Bank’s monthly payment fee is $597.70 for the same loan amount.

What would be the APR for an auto loan for each of these banks? (Round your final answers to the nearest hundredth percent.)

	APR
First America Bank	between %	and %
U.S. Bank	between %	and %

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Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: May 19, 2023 04:21 AM

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First America Banks monthly payment charge on a 48-month, $22,000 loan is $588.26. The U.S. Banks monthly

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To calculate the APR Annual Percentage Rate for an auto loan we need to cons... View the full answer

Personal Finance

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