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A Car Dealer Carries Out the Following Calculations 18.0%18.0 \% B) 57.0%57.0 \%

question 179

Multiple Choice

A car dealer carries out the following calculations.  A car dealer carries out the following calculations.   What is the annual percentage rate? Round your answer to the nearest tenth of a percent. A)   18.0 \%  B)   57.0 \%  C)   11.8 \%  D)   7.9 \%  E)   15.7 \% What is the annual percentage rate? Round your answer to the nearest tenth of a percent.

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Definitions:

Postdated Check

A check written with a date in the future, which cannot be cashed or deposited until that date.

Creditor

An individual or entity that is owed money or claims to be owed money by another entity, known as the debtor.

Bounced Check

A check that cannot be honored due to insufficient funds in the account it was issued on.

Insufficient Funds

A situation where an account does not have enough money available to cover transactions.

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