Rentown advertised a computer at a cash price of $1699 and at a rent-to-own rate of $129

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Rentown advertised a computer 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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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 04:56 AM

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Rentown advertised a computer at a cash price of $1699 and at a rent-to-own rate of $129

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

Fundamentals Of Business Mathematics In Canada

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