Monday, August 8, 2011

I Need some Math help?

Wade Ellis buys a new car for $16,113.82. He puts 10% down and obtains a simple interest amortized loan for the balance at 11 and 1/2 % interest for four years. If loan fees included in the finance charge total $814.14, find the APR. (Use your graphing calculator. Round the answer to one decimal place.)

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