For the car loan described, give the following information. A car dealer will sell you a used car for $6,598 with $798 down and payments of $161.51 per month for 48 months. (a) amount to be paid $ (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent) %
For the car loan described, give the following information. A car dealer will sell you a used car for $6,598 with $798 down and payments of $161.51 per month for 48 months. (a) amount to be paid $ (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) % (d) APR (rounded to the nearest tenth of a percent) %
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 12EA: Scrimiger Paints wants to upgrade its machinery and on September 20 takes out a loan from the bank...
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For the car loan described, give the following information.
A car dealer will sell you a used car for $6,598 with $798 down and payments of $161.51 per month for 48 months.
(a) amount to be paid
$
(b) amount of interest
$
(c) interest rate (Round your answer to two decimal places.)
%
(d) APR (rounded to the nearest tenth of a percent)
%
$
(b) amount of interest
$
(c) interest rate (Round your answer to two decimal places.)
%
(d) APR (rounded to the nearest tenth of a percent)
%
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