Q4.2 Rentown advertised a computer system at a cash price of $4197 and at a rent-to-own rate of $402 at the beginning of each month for 24 months. What effective rate of interest is a customer paying to acquire the computer in a rent-to-own transaction?

Answer rating: 100% (QA)

Rent to own purchase price 40224 months9648 out of 24 installm... View the full answer