Apr for the loan


Problem:

Suppose you borrow $18,000 from your bank to buy a car. You agree to pay $363.25 per month for 60 months.

Required:

Question: What is the APR for the loan?

  • 7.8%
  • 7.2%
  • 8.6%
  • 6.8%

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Accounting Basics: Apr for the loan
Reference No:- TGS0891145

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