Question
Dave borrowed $1,250 on January 1, 2019. The bank charged him an $8.00 service charge and interest was $76.50. If Dave paid the $1,250 in
Dave borrowed $1,250 on January 1, 2019. The bank charged him an $8.00 service charge and interest was $76.50. If Dave paid the $1,250 in 12 equal monthly payments, what was the APR?
A) 10.06%
B) 12.9%
C) 10.42%
D) 12.48%
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Cost Management Measuring Monitoring And Motivating Performance
Authors: Leslie G. Eldenburg, Susan Wolcott
1st Edition
0471205494, 978-0471205494
