Question
A businessman wants to buy a truck. The dealer offers to sell the truck for either $111,000 now, or 4 yearly payments of $32,107, with
A businessman wants to buy a truck. The dealer offers to sell the truck for either $111,000 now, or 4 yearly payments of $32,107, with the first payment one year after the purchase of the truck.
What is the yearly interest rate being offered by the dealer (to the customer)?
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Business Math
Authors: Cheryl Cleaves, Margie Hobbs, Jeffrey Noble
10th edition
133011208, 978-0321924308, 321924304, 978-0133011203
