Audrey is buying a new car for 32,998 she plans to make a down payment of 4200 if she’s to make monthly payments of 525 for the

Question

qwelly [4]

4 years ago

7

Audrey is buying a new car for 32,998 she plans to make a down payment of 4200 if she’s to make monthly payments of 525 for the

next five years what APR has she paid?

Mathematics

2 answers:

solong [7] · Answer 1 · 2022-01-26T19:45:08+03:00

solong [7]4 years ago

6 0

A suitable financial calculator can tell you the interest rate is about 3.5863%.

_____
There is no explicit formula for APR. It must be solved for iteratively or graphically.

Reptile [31] · Answer 2 · 2022-01-26T17:43:20+03:00

Reptile [31]4 years ago

4 0

The answer is 2702. I think idk what APR means