Question: A queen-size brass bed costs $1,155 and is financed with monthly payments for three years. The total finance charge is $415.80. Find the annual percentage

A queen-size brass bed costs $1,155 and is financed with monthly payments for three years. The total finance charge is $415.80. Find the annual percentage rate.

Step by Step Solution

3.49 Rating (166 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

41580 1155 100 36 Move down ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

724-B-F-F-M (2814).docx

120 KBs Word File

Students Have Also Explored These Related Finance Questions!