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Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
Edition 8ISBN: 978-1305585454 Exercise 22
Chris Manning purchased a $7,590 motorcycle with a 36-month instalment loan. The monthly payments are $261.44 per month.
a. Use the APR formula to calculate the annual percentage rate of the loan. Round to the nearest hundredth of a percent.
b. Use the APR tables to verify your answer from part a.
a. Use the APR formula to calculate the annual percentage rate of the loan. Round to the nearest hundredth of a percent.
b. Use the APR tables to verify your answer from part a.
Explanation
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The given data is the amount financed is...
Contemporary Mathematics for Business & Consumers 8th Edition by Robert Brechner,Geroge Bergeman
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