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 (b) amount of interest (c) interest rate (Round your answer to two decimal places.) %
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 (b) amount of interest (c) interest rate (Round your answer to two decimal places.) %
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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
$4
(b) amount of interest
$
(c) interest rate (Round your answer to two decimal places.)
(d) APR (rounded to the nearest tenth of a percent)
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0877d8d8-3e9c-4c56-bc4c-809107d64261%2F10ece0d2-629d-4202-8881-cd145a2526d5%2F2i5vi3c_processed.png&w=3840&q=75)
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
$4
(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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