You want to buy a new sports coupe for $79,500, and the finance office at the dealership
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You want to buy a new sports coupe for $79,500, and the finance office at the dealership has quoted you an APR of 5.8 percent for a 60-month loan to buy the car. What will your monthly payments be? What is the effective annual rate on this loan?
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The time line is 0 1 60 79500 C C C C C C C C C We first need to find the annuity paymen...View the full answer
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861704
11th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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