Question
Ricardo purchased credit with a 78-inch OLED (organic light-emitting diode) screen, whose cash price is $184,000. It was agreed that Ricardo would pay for the
Ricardo purchased credit with a 78-inch OLED (organic light-emitting diode) screen, whose cash price is $184,000. It was agreed that Ricardo would pay for the screen through two payments: one for $95,376.50 within 10 months and the second for $143,064.74 within 18 months. Calculate the annual interest rate compounded each month that Ricardo had to pay for the financing.
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
1285141903, 1285141903, 9781285141909, 978-0538473637
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