Question: How do I solve the problem below using a financial calculator? I already know the formula, but I'm trying to learn how to use a

How do I solve the problem below using a financial calculator? I already know the formula, but I'm trying to learn how to use a financial calculator. Please provide the inputs using the format below.

The inputs I used to solve the problem are:

PV = 4,000

PMT = -137.41

N = 36

FV = 0

I/YR = ?

The inputs produce 1.27 times by 12 equals 15.25%, which is incorrect.

How do I solve the problem below using a

The store where you bought new home furnishings offers you two alternative payment plans. The rst plan requires a $4,000 immediate up-front payment. The second plan requires you to make monthly payments of $137.41, payable at the l of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan? Select the correct answer. Q a.13.90% O b.14.40% O c.14.65% O d.14.90% O e.14.15%

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