Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of

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Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of $129 at the beginning of each month for 24 months. What effective rate of interest is a customer paying to acquire the computer in a rent-to-own transaction?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:58 AM

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Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of

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The interest rate paid by the customer is the discount rate that makes t...View the full answer

Business Mathematics In Canada

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