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You want to purchase a new motorcycle that costs $27,800. The most you can pay each...

You want to purchase a new motorcycle that costs $27,800. The most you can pay each month is $570 over the life of the 60-month loan. What is the highest APR that you could afford?

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  • 8.47%

  • 8.72%

  • 9.68%

  • 7.33%

  • 7.82%

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Answer #1

13 14 Inper (i.e Loan tenure in months) | pmt (i.e monthly payment) pv (i.e cost of motor cycle) fv 60 -570 27800 16 17 18 ra

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