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    Finding the Annual Interest Rate on a Car Loan

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    (Rate of return of an annuity) Paul's Perfect Peugeot says they'll sell you a brand new Italian's Iron Man motor scooter for $1699. Financing is available, and the terms are 10% down and payments of $46.57 a month for 40 months. What annual interest rate is Paul charging you?

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    https://brainmass.com/business/annuity/finding-annual-interest-rate-car-loan-399493

    Solution Summary

    Using Excel, this solution illustrates how to find the annual interest rate on a car loan.

    $2.19

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