Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman

تمرين 27

Tim Houston purchased a wall unit for $2,400. He made a $700 down payment and financed the balance with an installment loan for 48 months. If Tim's payments are $42.50 per month, use the APR formula to calculate what annual percentage rate he is paying on the loan.