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You have arranged for a loan on your new car that will require the first payment today. the loan is for $32,000, and the monthly payments are $620. required: if the loan will be…

You have arranged for a loan on your new car that will require the first payment today. the loan is for $32,000, and the monthly payments are $620. required: if the loan will be…
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You have arranged for a loan on your new car that will require the first payment today. the loan is for $32,000, and the monthly payments are $620.

required: if the loan will be paid off over the next 60 months, what is the apr of the loan?

User Sarath Mohan
by
8.8k points

1 Answer

5 votes
65.643 is the answer of the interest rate
User Karan Kalsi
by
7.9k points
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