Use a calculator for this exercise. Chuong Ngo borrows$2100from a bank that advertises a8%simple interest rate and

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Use a calculator for this exercise.

Chuong Ngo borrows$2100from a bank that advertises a8%simple interest rate and repays the loan inthreeequal monthly payments. Estimate the APR. Round to the nearest tenth of a percent. Use the Approximate Annual Percentage Rate Formula.

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470161012

9th Canadian Edition, Volume 2

Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield.

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Posted Date: May 19, 2024 08:00 PM

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Use a calculator for this exercise. Chuong Ngo borrows$2100from a bank that advertises a8%simple interest rate and

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Intermediate Accounting

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