Jonathan is trying to purchasea new car. He negotiated a price of $35,000 and has $2,500 for a down payment. The sales-person is quoting a monthly payment $625 on a 5 yea
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Get it written →Jonathan is trying to purchasea new car. He negotiated a price of $35,000 and has $2,500 for a down payment. The sales-person is quoting a monthly payment $625 on a 5 year loan. What is the implied interest rate on this loan? (Enter your answer as a decimal number to 3 decimal places. So for 5.25% enter .525)
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