Business, 03.03.2020 00:41 dward5823

Assume that you are going to buy a new car for $25,000. You will be able to make a down payment of $3,000. The remaining $22,000 will be financed by the dealer. The dealer computes your monthly payment to be $547.47 for 48 months of financing.
What is the dealer’s annual rate of return on this car loan? (%)

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Assume that you are going to buy a new car for $25,000. You will be able to make a down payment of $...

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