If a furniture store offers to sell a washer- dryer combination priced at $1395 on a conditional
Question:
If a furniture store offers to sell a washer- dryer combination priced at $1395 on a conditional sale contract requiring 12 monthly payments of $125 (including a payment on the date of sale), what effective rate of interest is being charged?
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The interestrate being charged is the discount rate that makes the present value of thep...View the full answer
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Hassan Ali
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