Question
A store is offering a ring for sale for 12 months at $360 per month. The retail price of the ring is $3,900. What is
A store is offering a ring for sale for 12 months at $360 per month. The retail price of the ring is $3,900. What is the interest rate on this offer?
13.50%
15.25%
16.76%
19.32%
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Introduction to Finance Markets, Investments and Financial Management
Authors: Ronald W. Melicher, Edgar A. Norton
16th edition
1119398282, 978-1-119-3211, 1119321115, 978-1119398288
