What is dealers annual rate of return on loan transactions

Reference no: EM13310357

Assume that you are going to buy a car work $25,000. You will be able to make a down payment of $3,000. The remaining #22,000 will be financed by the dealer. The dealer computes your monthly payment to be $547.47 for 28 months of financing. What is the dealers annual rate of return on this loan transaction? using excel and the IRR formela

Reference no: EM13310357

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