If a furniture store offers to sell a washer-dryer combination priced at $1395 on a conditional sale contract requiring 12 monthly payments of $125 (including a payment on the date of sale), what effective rate of interest is being charged?

Question

Quizplus · Accepted Answer

The Answer of If a furniture store offers to sell a washer-dryer combination priced at $1395 on a conditional sale contract requiring 12 monthly payments of $125 (including a payment on the date of sale), what effective rate of interest is being charged?

If a Furniture Store Offers to Sell a Washer-Dryer Combination