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18 December, 21:07

Audrey is buying a new car for 32,998.00. She plans to make a down payment of 4,200.00. If she's to make monthly payments of $525 for the next five years, what APR has she paid

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  1. 19 December, 00:05
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    The price of the new car is 32 998.00 dollars

    => he made a down payment of 4,200.00 dollars

    => 32 998.00 - 4,200.00 = 28 798 dollars remaining

    => She pays 525 dollars for the next 5 years

    => 525 * 12 months = 6300 dollars * 5 years = 31 500 dollars

    => 31 500 dollars - 28 798 = 2702

    => 2702 / 5 years = 540.4 dollars is the APR.
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