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Skip to main content Final Exam Fall24 F325 AnswerSaved Help opens in a new windowSave & ExitSubmit Item9 Time Remaining 1 hour 14 minutes 53 seconds 01:14:53 Item 9 Time Remaining 1 hour 14 minutes 53 seconds 01:14:53 You want to buy a new sports coupe for $68,500, and the finance office at the dealership has quoted you a loan with an APR of 5.9 percent for 60 months to buy the car. Requirement 1: What will your monthly payments be? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).) Monthly payment$ Requirement 2: What is the effective annual rate on this loan? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).) Effective annual rate % Prev Question 9 of 33 Total9 of 33 Visit question mapNext

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Final Exam Fall24 F325
AnswerSaved
Help opens in a new windowSave & ExitSubmit
Item9
Time Remaining 1 hour 14 minutes 53 seconds
01:14:53
Item 9
Time Remaining 1 hour 14 minutes 53 seconds
01:14:53
You want to buy a new sports coupe for $68,500, and the finance office at the dealership has quoted you a loan with an APR of 5.9 percent for 60 months to buy the car.
Requirement 1:
What will your monthly payments be? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Round your answer to 2 decimal places (e.g., 32.16).)
  Monthly payment$  
Requirement 2:
What is the effective annual rate on this loan? (Enter rounded answer as directed, but do not use rounded numbers in intermediate calculations. Enter your answer as a percent rounded to 2 decimal places (e.g., 32.16).)
  Effective annual rate %  
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