You are considering buying a new car.The sticker price is $37,750 and you have $5,000 to put
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Question:
You are considering buying a new car.The sticker price is $37,750 and you have $5,000 to put toward a down payment.If you can negotiate a Flat interest rate of 6 percent and you wish to pay for the car over a 4-year period.What is the equivalent Annual Percentage Rate on this loan?
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