Buying a new car for 32998.00 putting down 4200.00 for down payment and making 525.00 monthly payments for five years what apr has been paid

Question

Mathematics

Lillian Duke

1 July, 04:10

Buying a new car for 32998.00 putting down 4200.00 for down payment and making 525.00 monthly payments for five years what apr has been paid

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Answers (1)

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Yuliana Savage · Answer 1

Amount financed

32,998-4,200=28,798

Total paid

525*60 months=31,500

Total interest

31,500-28,798=2,702

APR

(2*12*2,702) : (28,798*61)

=0.037*100=3.7% ... answer