You want to buy a new sports coupe for 75600 and the, Ask an Expert

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You want to buy a new sports coupe for $75,600, and the finance office at the dealership has quoted you a loan with an APR of 8 percent for 48 months to buy the car.

Requirement 1:

What will your monthly payments be? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)

Requirement 2:

What is the effective annual rate on this loan? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9745992

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