Ricardo purchased credit with a 78-inch OLED (organic light-emitting diode) screen, whose cash price is $184,000. It
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Ricardo purchased credit with a 78-inch OLED (organic light-emitting diode) screen, whose cash price is $184,000. It was agreed that Ricardo would pay for the screen through two payments: one for $95,376.50 within 10 months and the second for $143,064.74 within 18 months. Calculate the annual interest rate compounded each month that Ricardo had to pay for the financing.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
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