Question 3: Calculate the rate the Rent-Way charges Consider that you borrow form a bank $180...
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Question 3: Calculate the rate the Rent-Way charges Consider that you borrow form a bank $180 and repay it in 78 weekly payments of $8. What APR do you pay on this loan? [Aside: you remember that in order to own the 13-inch Toshiba TV at you need to pay $8 a week for 78 weeks] Solution: PV=-180, nper- 78, pmt=8 Question 3: Calculate the rate the Rent-Way charges Consider that you borrow form a bank $180 and repay it in 78 weekly payments of $8. What APR do you pay on this loan? [Aside: you remember that in order to own the 13-inch Toshiba TV at you need to pay $8 a week for 78 weeks] Solution: PV=-180, nper- 78, pmt=8
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Corporate Finance Core Principles and Applications
ISBN: 978-0077905200
3rd edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe, Bradford
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