Question
Mr. Aranjuez bought a flat screen TV on credit. They ask for a down payment of $5,300.00 and you have a balance of $21,200.00 left
Mr. Aranjuez bought a flat screen TV on credit. They ask for a down payment
of $5,300.00 and you have a balance of $21,200.00 left to cover with 12 payments of
$2,200.00 each. What is the annual interest rate that will be applied to Mr.
Aranjuez?
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Step: 1
Given Down payment 530000 Balance to cover 2120000 Number of payments 12 Payment amo...
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Financial accounting
Authors: Walter T. Harrison, Charles T. Horngren, William Bill Thomas
8th Edition
9780135114933, 136108865, 978-0136108863
