# You want to buy a new sports coupe for \$73,500, and the finance offic - 15609

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## yousafbhutta

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Price: \$0.50
• Posted on: Sun 10 Mar, 2013
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Request Description

 You want to buy a new sports coupe for \$73,500, and the finance office at the dealership has quoted you a 5.5 percent APR loan for 72 months to buy the car.

 What will your monthly payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Solution Description

You want to buy a new sports coupe for \$73,500, and the finance office at the dealership has quoted you a 5.5 percent APR loan for 72 months to buy the car.

 What will your monthly payments be? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

 Monthly payment \$

 What is the effective annual rate on this loan? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))

Effective annual rate
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