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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?
a. 13.50%
b. 15.25%
c. 16.76%
d. 19.32%
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Finance For Non Financial Managers
Authors: Pierre G. Bergeron
5th Edition
0176104070, 9780176104078
