You take out an installment loan to purchase a fishing boat costing $3,900. You make a down payment of $1,000 and finance the balance by making monthly payments of $100.53 for 36 months. Use the APR formula to find the APR.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “You take out an installment loan to purchase a fishing boat costing $3,900. You make a down payment of $1,000 and finance the balance by ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Ralph Pew is the president of a small corporation, Yogurt for You, Inc. The company has two yogurt stores in malls in Mesa, Arizona. There were 22 employees in the stores in 2016.
Answers (1)
The mean ages with standard deviations of four swim teams at a swim club are given below. Team Mean Standard Deviation Stars 16 4.1 Dolphins 18 1.5 Giants 14 0.3 Mackerels 15 2.3 Which statement is most likely to be true?
Answers (1)
Jaimen is struggling to make his student loan payments after college. he is considering defaulting on the student loan. which is not a potential consequence if he decides to default on the student loan?
Answers (1)
Riser Corporation was granted a patent on a product on January 1, 1998. To protect its patent, the corporation purchased on January 1, 2007 a patent on a competing product which was originally issued on January 10, 2003.
Answers (1)
What is a fringe benefit? a. a cash payment for casual work b. a business other than sales or marketing c. a payment other than wages or salaries d. an accounting term meaning profits
Answers (1)
New Questions in Business
E. If the market price of wheat instead falls to $20.00 per bushel, how much wheat will Ali choose to produce per month in order to maximize his profits in the short run?
Answers (1)
Constantine purchased 100 shares of IBM stock several years ago for $150 per share. The price of these shares has fallen to $55 per share. Constantine's investment strategy is "buy low, sell high.
Answers (2)
An interest rate that remains the same throughout the entire loan repayment period
Answers (1)
Which of the following statements is consistent with the ideas that W. Edwards Deming promoted regarding quality management? a. Understanding variation is essential to improving quality b.
Answers (1)
In a recent annual report, Fourth Wall Inc. (formerly Greencube) disclosed that 61,700,000 shares of common stock have been authorized.
Answers (1)