Stetson's most expensive cowboy hat costs $5000. If you take out a 5-year add-on loan to buy
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Stetson's most expensive cowboy hat costs $5000. If you take out a 5-year add-on loan to buy the hat with monthly payments of $170, what is the interest rate on the loan? Enter your answer as percentage, rounded to two decimal places if necessary (for example, if the interest rate is 5.4321%, enter your answer as 5.43).
Related Book For
Quantitative Methods for Business
ISBN: 978-0840062345
12th edition
Authors: David Anderson, Dennis Sweeney, Thomas Williams, Jeffrey Cam
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