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A car is advertised with a price of $16336. The payment plan to own a car is $474 per month for 8 years. What is the amount of interest paid?

A car is advertised with a price of $16336. The payment plan to own a car is $474 per month for 8 years. What is the amount of interest paid?
asked 146k views
4 votes
A car is advertised with a price of $16336. The payment plan to own a car is $474 per month for 8 years. What is the

amount of interest paid?

asked
User Nevsan
by
8.2k points

1 Answer

6 votes
The interest rate is about 32.045%.
answered
User Jishi
by
8.3k points
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