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The Lifestyle Fitness and Exercise Centre charges annual membership fees of $600 (in advance) or six easy payments of $120 at the beginning of
The Lifestyle Fitness and Exercise Centre charges annual membership fees of $600 (in advance) or six "easy" payments of $120 at the beginning of every two months. What effective interest rate, to the nearest 0.01%, is being charged on the instalment plan?
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Quantitative Analysis for Management
Authors: Barry Render, Ralph M. Stair, Michael E. Hanna, Trevor S. Ha
12th edition
133507335, 978-0133507331
