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


Question - You purchased a car for $32,500 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?

8.81%

12.27%

14.16%

13.20%

10.50%

11.37%

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Accounting Basics: You plan to pay it off with monthly payments of 850 in 4
Reference No:- TGS02845085

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