A $2,000 computer can be financed by paying $100 per month for 2 years. What is the

Question:

A $2,000 computer can be financed by paying $100 per month for 2 years. What is the annual nominal rate for this loan?
In Problem, use graphical approximation techniques or an equation solver to approximate the desired interest rate. Express each answer as a percentage, correct to two decimal places.
Compounding
Compounding is the process in which an asset's earnings, from either capital gains or interest, are reinvested to generate additional earnings over time. This growth, calculated using exponential functions, occurs because the investment will...