Question

A used car dealer advertises financing at 0% interest over 3 years with monthly payments. You must pay a processing fee of $250 at signing. The car you like cost $6000.A) what is you effective annual interest rate?B) you believe that the dealer would accept $5200 if you paid cash. What effective annual interest rate would you be paying, if you financed with the dealer?

Answer 1

I don’t know the answer anyone can answer this question