A used car delaer advertises financing at 0 interest over 3, Econometrics

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A used car delaer advertises financing at 0 interest over 3

A used car delaer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $250 at signing. The car you like cost $6000.

a) What is you effective annual interest rate?

b) You believe that the dealer would accept $5200 if you paid cash. What effective annual interest rate would you be paying, if you financed with the dealer?

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Econometrics: A used car delaer advertises financing at 0 interest over 3

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Econometrics: A used car delaer advertises financing at 0 interest over 3

Reference No:- TGS0584622

Have a Question? (oR Write a Review)

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Request for Solution File

Ask an Expert for Answer!!

Econometrics: A used car delaer advertises financing at 0 interest over 3

Reference No:- TGS0584622

Recent Questions Asked Econometrics

Q : A any given interest rate business become very optimistic

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