If a furniture store offers to sell a washer- dryer combination priced at $1395 on a conditional

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If a furniture store offers to sell a washer- dryer combination priced at $1395 on a conditional sale contract requiring 12 monthly payments of $125 (including a payment on the date of sale), what effective rate of interest is being charged?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:53 AM

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If a furniture store offers to sell a washer- dryer combination priced at $1395 on a conditional

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The interest rate being charged is the discount rate that makes the present value of the p...View the full answer

Business Mathematics In Canada

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