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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 18
Meghan Pease purchased a small sailboat for $8,350. She made a down payment of $1,400 and financed the balance with monthly payments of $239.38 for 36 months.
a. What is the finance charge on the loan?
b. Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan.
a. What is the finance charge on the loan?
b. Use Table 13-1 to find what annual percentage rate was charged on Meghan's loan.
Explanation
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The given data is the purchased amount i...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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