What is the effective interest rate for the loan, Microeconomics

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What is the effective interest rate for the loan

Problem

A car dealer is offering a $1500 rebate or financing at 2% APR over 36 months. The price of the car is $17,000. A minimum down payment of 20% is required. What is the effective interest rate for the loan?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: What is the effective interest rate for the loan

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Microeconomics: What is the effective interest rate for the loan

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