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Justin Chan Bought a Scion Car for a Price of $8,200

Question 12

Multiple Choice

Justin Chan bought a Scion car for a price of $8,200, putting down $800 and financing the remainder with 60 monthly payments of $179.99. The APR by table lookup is (use the tables in the handbook) :


A) Close to 15%
B) Close to 14%
C) Close to 13 ½%
D) Between 16.00% and 16.25%
E) None of these

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