Hi everyone,
I am new to this site and I appreciate any help you offer.
I just want to make sure I am correct because I read into things and confuse myself even more!
Here goes: If you take out an $8000 car loan that calls for 48 monthly payments at an APR of 10%, what is the monthly payment? What is the effective annual percentage rate on the loan?
I have: 1.2% monthly rate at a payment of 96 per month..?
Thanks in advance!