A finance company paid a furniture retailer $ 1 9 3 4 for a conditional sale contract requiring 1 2 end of month payments of $ 1 7 5 What annual rate of return does the finance company earn on the purchase

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A finance company paid a furniture retailer $ 1 9 3 4 for a conditional sale contract requiring 1 2 end - of - month

A finance company paid a furniture retailer $

1934

for a conditional sale

contract requiring

12

end

-

-

month payments of $

175 .

What annual rate of return

does the finance company earn on the purchase?

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