David is buying a new car for 21,349.00. he plans to make a down payment of 3,000.00. if hes to make monthly payments of 352 for the next five years, what apr has he paid?
a. 5%
b. 59%
c. 5.9%
d. 05%

 c. 5.9%

Step-by-step explanation:

Given: Present value of loan PV =

The monthly payment M = 352  

Total number of periods=

Let the APR  be 'i'.

Now, the formula to find the monthly payment is given by ;-

By using calculator, we get

In percent, r= 5.9%

6mm^3 or .6cm^3

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6     6   6

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