You want to buy a new sports coupe for 74500 and the, Ask an Expert

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You want to buy a new sports coupe for $74,500, and the finance office at the dealership has quoted you a loan with an APR of 6.9 percent for 36 months to buy the car.

What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Monthly payment $

What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Effective annual rate %

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92698908

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