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Future Shop has a deal on new computer tables. If you buy the table, they ask you to pay $160 today. After that, they ask
Future Shop has a deal on new computer tables. If you buy the table, they ask you to pay $160 today. After that, they ask you to make 12 monthly payments of $180 starting in 1 month. Suppose you could purchase the table for $2,200 cash now. What is the implied interest rate, (12), on the loan?
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To calculate the implied interest rate on the loan you can use the formula for calculating the pre...
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Making Hard Decisions with decision tools
Authors: Robert Clemen, Terence Reilly
3rd edition
538797576, 978-0538797573
