For the car loan described, give the following information. A car dealer will sell you the $30,750 car of your dreams for $6,000 down and payments of $665.06 per month for 60 months. (a) amount to be paid $ 512.5 (b) amount of interest (c) interest rate (Round your answer to two decimal places.) 1.72 )× % (d) APR (rounded to the nearest tenth of a percent) 20.7 ]× %

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
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 the $30,750 car of your dreams for $6,000 down and payments of $665.06 per month for 60 months.
(a) amount to be paid
$ 512.5
(b) amount of interest
$
(c) interest rate (Round your answer to two decimal places.)
1.72
X %
(d) APR (rounded to the nearest tenth of a percent)
20.7
X %
Transcribed Image Text:For the car loan described, give the following information. A car dealer will sell you the $30,750 car of your dreams for $6,000 down and payments of $665.06 per month for 60 months. (a) amount to be paid $ 512.5 (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) 1.72 X % (d) APR (rounded to the nearest tenth of a percent) 20.7 X %
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