Pls help this is another question for my quizzzizz test
1 answer:
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Answer:
9.68%
Step-by-step explanation:
cost of car = $35,000
down payment = $3,000
number of monthly instalments= $65
amount in every monthly instalment= $539.99
total monthly payment= 65×539.99= 35099.35
amount to be paid apart from downpayment= $35,000-3000= 32,000
therefore total interest paid in 65 months= 35099.35-3200= $3099.35
now, monthly interest rate
⇒ r= 9.68%