Question
Your child's orthodontist offers you two alternative payment plans. The first plan requires a $3,500 immediate up-front payment. The second plan requires you to make
Your child's orthodontist offers you two alternative payment plans. The first plan requires a $3,500 immediate up-front payment. The second plan requires you to make monthly payments of $137.41, payable at theendof each month for 3 years. What nominal annual interest rate is built into the monthly payment plan?
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Public Finance and Public Policy
Authors: Jonathan Gruber
5th edition
1464143331, 978-1464143335
