You plan to pay it off with monthly payments of 850 in 4


Question - You purchased a car for $34,500 with no down payment. You plan to pay it off with monthly payments of $850 in 4 years. What is the effective annual rate of interest on the loan?

Solution Preview :

Prepared by a verified Expert
Accounting Basics: You plan to pay it off with monthly payments of 850 in 4
Reference No:- TGS02440082

Now Priced at $20 (50% Discount)

Recommended (90%)

Rated (4.3/5)