Mary Jo wants to buy a boat that is available at two dealerships.The price of the boat

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Mary Jo wants to buy a boat that is available at two dealerships.The price of the boat is the same at both dealerships.Middlefield Motors would let her make quarterly payments of 4,137.22 dollars for 9years at a quarterly interest rate of 2.3 percent.Her first payment to Middlefield Motors would be due immediately.If Fairfax Boats would let her make equal monthly payments of 4,882.33 for 2 years and if her first payment to Fairfax Boats would be in 1 month, then what is the monthly interest rate that Mary Jo wouldbecharged by Fairfax Boats?Answer as a rate in decimal format so that 12.34% would be entered as .1234 and 0.98% would be entered as .0098.

Posted Date: May 16, 2024 04:08 PM

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Mary Jo wants to buy a boat that is available at two dealerships.The price of the boat

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