What is the apr of the loan

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Reference no: EM131829028

Assume you take out a car loan of $9,000 that calls for 36 monthly payments of $340 each. a. What is the APR of the loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places. Use a financial calculator or Excel.) b. What is the effective annual interest rate on the loan? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Reference no: EM131829028

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