You walk into a car dealership and pick up a sweet new 2016 Acura TSX. The...
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You walk into a car dealership and pick up a sweet new 2016 Acura TSX. The car is valued at $29,890 today. The salesman tells you that they are running a special interest rate, and that if you put down $9,000, your monthly payments (for five years) will be $367.04. What is the APR associated with the "special interest rate" that is being offered to you? You walk into a car dealership and pick up a sweet new 2016 Acura TSX. The car is valued at $29,890 today. The salesman tells you that they are running a special interest rate, and that if you put down $9,000, your monthly payments (for five years) will be $367.04. What is the APR associated with the "special interest rate" that is being offered to you?
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