Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of
Question:
Rentown advertised a computer system at a cash price of $1699 and at a rent-to-own rate of $129 at the beginning of each month for 24 months. What effective rate of interest is a customer paying to acquire the computer in a rent-to-own transaction?
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The interestrate paid by the customer is the discount rate that m...View the full answer
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Anthony Ngatia
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