What is the effective annual rate on this loan

Assignment Help Financial Management

Reference no: EM131976657

You want to buy a new sports coupe for $74,900, and the finance office at the dealership has quoted you a loan with an APR of 7.3 percent for 36 months to buy the car.

What will your monthly payments be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Monthly payment $

What is the effective annual rate on this loan? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Effective annual rate %

Reference no: EM131976657

Questions Cloud

Retirement account value : If your first deposit will be made one month from now, how large will your retirement account be in 31 years?

Outline the process through which electricity is generated : In point form, outline the process through which electricity is generated, highlight the energy transformations that occur.

Discuss cons and pros of anonymity tools : Write a 250-word paper to discuss cons and pros of anonymity tools. Make sure you cite any additional references you use other than the textbook.

Develop a change model to implement your change vision : Develop a change model to implement your change vision. Identify the specific steps needed to implement a change and effectively respond to the pressure.

What is the effective annual rate on this loan : What is the effective annual rate on this loan? What will your monthly payments be?

Melting point to degrees celsius : Mercury, the only metal that exists as a liquid at room temperature, melts at 234.3 K. Convert this melting point to degrees Celsius.

What will the total cash receipts for december : B Ltd. has given you the following information to prepare its cash budget for December 2014. What will the total cash receipts for December be

Compounded daily on savings accounts : Bucher Credit Bank is offering 5.8 percent compounded daily on its savings accounts. How much will you have in the account in 6 years?

Explore how would you describe ambush marketing : Explore how would you describe ambush marketing? Include two example with your description. Can ambush marketing be both intentional and unintentional? Explain.

User Account

All Pages