You have arranged for a loan on your new car that will, Finance Basics

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You have arranged for a loan on your new car that will

Question: You have arranged for a loan on your new car that will require the first payment today. The loan is for $38,500, and the monthly payments are $690.

Required: If the loan will be paid off over the next 69 months, what is the APR of the loan? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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Finance Basics: You have arranged for a loan on your new car that will

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