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16 January, 11:14

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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  1. 16 January, 11:37
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    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
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