What are the monthly and nominal interest rates

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Suppose you plan to purchase a car that costs a total of $28,540 and will finance 85% of this amount. If you are told by the auto-dealer that you can finance the car through them for $469 per month for the next 5 years, what are the monthly and nominal interest rates

Reference no: EM131097097

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What are the monthly and nominal interest rates : Suppose you plan to purchase a car that costs a total of $28,540 and will finance 85% of this amount. If you are told by the auto-dealer that you can finance the car through them for $469 per month for the next 5 years, what are the monthly and nomin..

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