math

posted by .

Find the APR:

Amount Financed \$3500; Interest Charged \$ 675; Number of Payments 24

• math -

r = ((I / Po) / 2) * 100%,
r = ((675 / 3500) / 2) * 100% = 9.643% = APR.

Note:24 mo. = 2years.

• math -

56

Respond to this Question

 First Name School Subject Your Answer

Similar Questions

1. math

What is the apr if the amount financed \$3500; Interest Charged \$ 675; Number of Payments 24
2. Helpppp

Find the apr to the nearest half percent for the following loan Amount financed \$3400 Finance charge \$470 Number of monthly payments 36 Please help
3. Math

Find the APR (true annual interest rate), to the nearest half percent, for the following loan. Amount Financed = \$1200 Finance Charge = \$90 Number of Monthly Payments = 12
4. Math

I need help with this I keep putting the numbers in wrong on the formula ! PLEASE HELP Price of article = \$315.50 Down payment = \$31.55 Monthly payment amount = \$16.50 Duration of payments = 20 months True annual interest rate to the …
5. math

OMG I CAN NOT get this !!!! Purchase price of article = \$495 Down payment = \$50 Number of payments = 36 True annual interest rate = 18% Monthly payment amount = \$ The formula is I= 2YC ________ M(N+1) y = the number of payments made …
6. math

Assume the car can be purchased for 0% down for 60 months (in lieu of rebate). A car with a sticker price of \$42,650 with factory and dealer rebates of \$5,100 Find the monthly payment if financed for 60 months at 0% APR. Find the monthly …
7. Math - full question

Julia purchased a new sofa for \$1300 and made a 15% down payment and financed the rest over 12 months. The store charged 11% interest on the amount financed. Find the down payment \$ Find the amount financed: \$ Find the interest paid: …
8. mathematics

Find I. Choose the correct answer. Amount Financed (m) = \$1,400 Number of Payments per year (y) = 12 Number of Payments (n) = 24 Total Interest (c) = \$200.50
9. math

Find c and I. Choose the right answers. Hint: c = total of payments - amount financed Amount Financed (m) = \$3,500 Number of Payments per year (y) = 12 Number of Payments (n) = 36 36 payments of \$104.50 each. To the nearest penny, …
10. math

Use the formula to solve for c. Choose the right answer. Amount Financed (m) = \$275 Number of Payments per year (y) = 12 Number of Payments (n) = 18 APR (I) = 12%

More Similar Questions