# Algbra

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A car dealer will sell you the \$16,650 car of your dreams for \$3,290 down and payments of \$331.97 per month for 48 months. What is the APR? (Round your answer to the nearest tenth of a percent.)

I keep getting the wrong answer.
I get 26.1

• Algbra -

As I gave \$3290 for down payment I owe 16650-3290=\$13360
If I pay \$331.97per month *48 months=\$15934.56
So when I owed 13360 I payed 15934.56 so 2574.56 more .If I owed 100 then I would have paid 100*2574.56/13360 more ie 19.3%
Is that OK? Does it make sense to you?

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