Question: Solve the following application problems and use the table to find the annual percentage rate (E-text, p.470). A contractor in Mexico City purchased a computer

Solve the following application problems and use the table to find the annual percentage rate (E-text, p.470). A contractor in Mexico City purchased a computer system for 650,000 pesos. After making a down payment of 100,000 pesos, he agreed to make payments of 26,342.18 pesos per month for 24 months. Find (a) the total installment cost and (b) the annual percentage rate (Two Answers / 2pt.). Annual Percentage Rate Table for Monthly Payment Plans

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