A car valued at $11 400 can be purchased for 10% down and end-of-month payments of $286.21

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A car valued at $11 400 can be purchased for 10% down and end-of-month payments of $286.21 for three-and-a-half years. What is the nominal annual rate of interest compounded monthly?

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:57 AM

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A car valued at $11 400 can be purchased for 10% down and end-of-month payments of $286.21

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Contemporary Business Mathematics with Canadian Applications

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