Purchase Solution

# Annual rate of interest (APR)

Not what you're looking for?

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?

##### Solution Summary

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

##### Solution Preview

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 ...

##### Marketing Research and Forecasting

The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.

##### Change and Resistance within Organizations

This quiz intended to help students understand change and resistance in organizations

##### Operations Management

This quiz tests a student's knowledge about Operations Management