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HOW DO YOU SOLVE THIS? PLEASE EXPLAIN USING FORMULA AND FINANCE CALCULATOR STEPS. You order a laptop, which has a price tag of $1,799. You
HOW DO YOU SOLVE THIS? PLEASE EXPLAIN USING FORMULA AND FINANCE CALCULATOR STEPS.
You order a laptop, which has a price tag of $1,799. You can also use Dell's financing plan with monthly pay of $43 for the next 67 months, with $0 down payment and the first payment due in one month. What is the effective annual rate (EAR) for the Dell financing plan?
a) 1.52%
b) 16.25%
c) 18.25%
d) 19.85%
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