You purchase a new PC for gaming and writing online exams. The PC comes with a price

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You purchase a new PC for gaming and writing online exams. The PC comes with a price of $1770. You agree to finance the entire purchase by making monthly. Payments of $89 at the end of the month for 22months.

What nominal annual interest rate compounded monthly was charged? (j2=?)

Related Book For answer-question

Intermediate Financial Management

ISBN: 978-1111530266

11th edition

Authors: Eugene F. Brigham, Phillip R. Daves

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Posted Date: Jul 17, 2023 06:37 AM

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You purchase a new PC for gaming and writing online exams. The PC comes with a price

Question:

Expert Answer:

To find the nominal annual interest rate compounded monthly j2 we can use the present value formul... View the full answer

Intermediate Financial Management

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