Question: You see a <a rel=car loan advertised with terms of 1.1%. When you visit the dealer and read the fine pri…” />

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Question: You see a car loan advertised with terms of 1.1%. When you visit the dealer and read the fine pri…
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Show transcribed image text You see a car loan advertised with terms of 1.1%. When you visit the dealer and read the fine print, however, you see that the interest is not the annual percentage rate, but the amount the dealer is charging every week. What is the APR (also known as the nominal interest rate)? 60.3%. 13.2% 1.1% 57.2% 76.6%

You see a car loan advertised with terms of 1.1%. When you visit the dealer and read the fine print, however, you see that the interest is not the annual percentage rate, but the amount the dealer is charging every week. What is the APR (also known as the nominal interest rate)? 60.3%. 13.2% 1.1% 57.2% 76.6%

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