Question: HOW DO YOU SOLVE THIS? PLEASE EXPLAIN USING FORMULA AND FINANCE CALCULATOR STEPS. You order a laptop, which has a price tag of $1,799. You

HOW DO YOU SOLVE THIS? PLEASE EXPLAIN USING FORMULA AND FINANCE CALCULATOR STEPS.

You order a laptop, which has a price tag of $1,799. You can also use Dell's financing plan with monthly pay of $43 for the next 67 months, with $0 down payment and the first payment due in one month. What is the effective annual rate (EAR) for the Dell financing plan?

a) 1.52%

b) 16.25%

c) 18.25%

d) 19.85%

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