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Homework answers / question archive / You want to buy a new sports coupe for $96,069, and the finance office at the dealership has quoted you a 5

You want to buy a new sports coupe for $96,069, and the finance office at the dealership has quoted you a 5

Finance

You want to buy a new sports coupe for $96,069, and the finance office at the dealership has quoted you a 5.4 percent APR loan for 77 months to buy the car. What is the effective annual rate on this loan? (round 2 decimal places)

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