How much interest is due at the end of the first month, Finance Basics

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How much interest is due at the end of the first month

Problem

You are purchasing a car for $12,465.00 plus 5.65% sales tax. You make a $1,300.00 down payment and have a fair credit score. How much interest is due at the end of the first month?

	Secured	Unsecured
Credit	APR (%)	APR (%)
Excellent	4.75	5.50
Good	5.00	5.90
Average	5.85	6.75
Fair	6.40	7.25
Poor	7.50	8.40

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Finance Basics: How much interest is due at the end of the first month

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Finance Basics: How much interest is due at the end of the first month

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