Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 305 Weeks Ago, 4 Days Ago
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 11 Jul 2017 My Price 3.00

effective annual interest rat

New Car You are considering buying a $50,000 car. The dealer has offered you a 13.6 percent loan with 30 equal monthly payments. On questioning him, you find that the interest charge of $17,000 (or 0.136 × $50,000 × 2.5 years) is added to the $50,000 for a total amount of $67,000. The payments are $2,233.33 a month ($67,000 ÷ 30). What is the approximate effective annual interest rate?

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Maurice Tutor
(5)
Status NEW Posted 11 Jul 2017 07:07 PM My Price 3.00

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