Helen is buying a $12,375 car with a $3000 down payment, followed by 36 monthly payments of $325 each. The down payment is aid immediately, and the monthly payments are due at the end of each month. What nominal annual interest rate is Helen paying? What effective interest rate?

The nominal annual interest rate is 15%.

The effective interest rate is 16.08%.

Step-by-step explanation:

$9,375 = $325 (P/A, i%, 36)(P/A, i%, 36)

= $9,375/$325= 28.846

From compound interest tables, i = 1.25%

Nominal Interest Rate= 1.25 x 12= 15%

Effective rate = (1+ (0.15/36))^36-1=1.004^36-1= 16.08%

725 parts per hour.

step-by-step explanation:

hi there, this answer is actually really simple.

you can set it up as 1450/2 or 3625/5 to find the answer.

they want to know how much per hour is being made, so you just divide.

1450/2=725.

and that's how many are produced per hour.

hope this . : )