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What rate did the manufacturer ?disclose

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Question: In the? past, a car manufacturer advertised? 0% financing on many of its models. For? example, a particular model had a cash price of ?$11,464.49. ?However, if you elected to buy the car under the? 0% financing? deal, then the manufacturer used a price of ?$13,152. If you chose a 48?-month ?term, then the manufacturer calculated your monthly loan payments using the? 0% financing price instead of the cash price ?($274 per? month). In the fine? print, the manufacturer was legally obliged to disclose the effective annual rate that it charged for the loan. What rate did the manufacturer ?disclose?

Reference no: EM132742502

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