5-39. Stan Slickum has a used car that can be bought for $8,000 cash or for a...

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5-39. Stan Slickum has a used car that can be bought for $8,000 cash or for a $1,000 down payment and $800 per month for 12 months. What is the effective annual interest rate on the monthly payment plan? (5.6.1)

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Engineering Economy

ISBN: 9780134870069

17th Edition

Authors: William Sullivan, Elin Wicks, C Koelling

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Question Posted: Oct 26, 2024 01:00 PM

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5-39. Stan Slickum has a used car that can be bought for $8,000 cash or for a...

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Engineering Economy

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