# Assume the car can be purchased for 0% down for 60 months (in lieu of rebate).

**Question description**

(a) Find the monthly payment if financed for 60 months at 0%
APR. (Round your answer to the nearest cent.)

$ 1

(b) Find the monthly payment if
financed at 2.5% add-on interest for 60 months. (Round your answer to the
nearest cent.)

$ 2

(c) Use the APR approximation formula to find
the APR for part (b).

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