A woman opened an account in a local store. In the charge account agreement, the store indicated

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A woman opened an account in a local store. In the charge account agreement, the store indicated it charges 11/2% each month on the unpaid balance. What nominal annual interest rate is being charged? What is the effective interest rate?

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Engineering Economics

ISBN: 9780195168075

9th Edition

Authors: Ted G. Feller

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Question Posted: Mar 01, 2010 04:15 AM

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A woman opened an account in a local store. In the charge account agreement, the store indicated

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Engineering Economics

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