Question: Question 33 A store is offering a diamond ring for sale for 60 months at $100 per month. The retail price of the ring is

 Question 33 A store is offering a diamond ring for sale

Question 33 A store is offering a diamond ring for sale for 60 months at $100 per month. The retail price of the ring is $5,000. What is the interest rate on this offer? 4.99% O 5.92% O 7.64% O 6.76%

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!