If you have a $19,500 car note with a $380.00 monthly payment, payable over 60 months, what interest rate are you paying?

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 12E
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Interest rate

If you have a $19,500 car note with a
$380.00 monthly payment, payable
over 60 months, what interest rate are
you paying?
Transcribed Image Text:If you have a $19,500 car note with a $380.00 monthly payment, payable over 60 months, what interest rate are you paying?
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