Q Tly 1 of 8 - + Automatic Zoom v You buy a stove for $1500 on
Fantastic news! We've Found the answer you've been seeking!
Question:
Q Tly 1 of 8 - + Automatic Zoom v You buy a stove for $1500 on February 20. The store gives you 4 months "interest free", after which you must pay the $1500. However, the store charges an administration fee of $50, to be paid today. What rate of simple interest, r, are you being charged for this "interest free" plan