An electric range lists for $470. Sales tax is 3%. The range may be purchased on time for $50 down and 12 payments of $40 a month. What is the nominal interest rate? A used car is priced at $7000. It can be purchased for $600 down and $400 a month for 18 months. What is the nominal rate of interest converted monthly for this time payment plan? Round the answer to the nearest .1%. The cash price of a dishwasher is $360. A buyer can pay $160 down and $12 a month for 24 months. What is the nominal rate converted monthly? A radio can be purchased for $100 cash. If it is bought on time, the down payment is $10 and the balance is paid in 11 monthly payments of $9 each. Find the nominal interest rate, rounded to .1%. A suite of furniture can be purchased for $431.47 cash, or for $31.47 down and 18 monthly payments of $26 each. What is the nominal rate converted monthly? A refrigerator lists for $407.47. It can be purchased for $57.47 down and 24 monthly payments of $20 each. What is the nominal rate, rounded to .1%? A gravestone can be purchased for $400 cash, or for $50 down and $32 a month for 12 months. What is the nominal rate of interest on the gravestone? . An engagement ring can be purchased for $700. Or it can be obtained with no down payment and monthly payments of $75 at the end of each month for 10 months. Find the nominal rate converted monthly, rounded to .1%. druar fo