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Annual rate of interest (APR)

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JD needs to borrow $15000 to buy a powerboat. The boat dealer is offering a rock bottom deal of thirty-six easy monthly payments of $399 plus a "balloon" payment of $6773.85 due at the end of the last month. What is the annual rate of interest (APR) the dealer is charging on this loan?

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Calculates the annual rate of interest (APR) the dealer is charging on this loan.

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JD needs to borrow $15000 to buy a powerboat. The boat dealer is offering a rock bottom deal of thirty-six easy monthly payments of $399 plus a "balloon" payment of $6773.85 due at the end of the last month. What is the annual rate of interest (APR) the dealer is charging on this loan?

PVIF= Present Value Interest ...

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