Question
Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment of $1,300 and financed the balance for
Miguel purchased a hot tub costing $5,010 by taking out an installment loan. He made a down payment of $1,300 and financed the balance for 24 months. If the payments are $171.77 each month, use the APR formula to find the APR. Round to the nearest hundredth of a percent.
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Auditing And Assurance Services
Authors: Alvin Arens, Randal J. Elder
14th Global Edition
0273755013, 978-0273755012
