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Re-submiiting Complete Portion of Algebra Question20

label Algebra
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For the car loan described, give the following information.

A newspaper advertisement offers a $4,500 used car for nothing down and 36 easy monthly payments of $145.62.
APR (rounded to the nearest tenth percent)
Dec 9th, 2014

How much money would you have paid in the end= 145.62$per month × 36 months=5242.32$

Amount paid in interest=5242.32$-4500$=742.32$

What percentage of 4500$ is 742.32= (742.32$/4500$)× 100 = 16.5%

16.5% would be the APR.

Dec 9th, 2014

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Dec 9th, 2014
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