A car dealer sells you a car for 6,980.00 with 980.00 down. What is the APR?
How long do you have to pay off the loan? What are your monthly payments?
To determine the Annual Percentage Rate (APR), we need a little more information. The APR represents the cost of credit on a yearly basis, taking into account the interest rate and any additional fees or charges associated with the loan.
If you have the total loan cost, the interest rate, and the loan term, I can help you calculate the APR.