Rachel:, ,Here’s another question, I’ll pay again and separately for the service., ,Could you please review this question and take a look at my answer, recalculate, solve and show all the calculations, ,Bob’s car lot will sell a used car for $3,000 with no money down. The buyer must agree to weekly payments of $40 for two years, starting one week after the car is bought. What is the EAR of this loan?, ,Answer (?): PV = 3,000 = C*((1 – 1/((1 + .26/52)^104))/(.26/52)) C = $37.06
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