APR at a Car Dealership
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A car dealer will sell you a used car for $8,946 with $946 down payments of $210.28 per month for 48 months. What is the APR. to the nearest tenth.
Explain to me how this problem is done? This is what I have: p = $8,946-946 = 8,000, m =210.28 t = 48/12 = 4, 210.28(48) = 10,093.44 - 8,000 = 2,093.44, 2x48 = 96/49 = 19591836 = 19.59%.
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The expert examines APR at a car dealerships.
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