Gerardo Norega bought a dinette set for $900, which he paid in 12 monthly payments of $81.90. (a) What was the finance charge? $ (b) What was the APR on this sale? (Use the True Annual Interest Rate (APR) table.) %
Gerardo Norega bought a dinette set for $900, which he paid in 12 monthly payments of $81.90. (a) What was the finance charge? $ (b) What was the APR on this sale? (Use the True Annual Interest Rate (APR) table.) %
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Gerardo Norega bought a dinette set for $900, which he paid in 12 monthly payments of $81.90.
(a) What was the finance charge?
$
(b) What was the APR on this sale? (Use the True Annual Interest Rate (APR) table.)
%
$
(b) What was the APR on this sale? (Use the True Annual Interest Rate (APR) table.)
%
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