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Amortization schedule with periodic payments. Moulton Motors is advertising the following deal on a new Honda? Civic: "Monthly payments of ?$309.32 for the next 60 months and this beauty can be? yours!" The sticker price of the car is $16,000. If you bought the? car, what interest rate would you be paying in both APR and EAR? terms?

Round answers two decimal places.

If you bought the? car, what monthly interest rate would you be? paying? ___%

If you bought the? car, what annual percentage rate? (APR) would you be? paying? ___%

If you bought the? car, what effective annual rate? (EAR) would you be? paying? ___%

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800354

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