Stan Slickum has a used car that can be bought for $8,700 cash or for a $2,000 down payment and $780 per month for 10 months. What is the effective annual interest rate on the monthly payment pl The effective annual interest rate is %. (Round to one decimal place.)

Q: Show the steps of your calculation O For example, question: a person deposits $500 to bank now, if…

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A: EMI = [P x R x (1+r)n ]÷[(1+r)n-1] P = principal = $26000 R = interest rate per month = 0.25% n =…

Q: Do not use Ai

A: Step 1:Step 2:Step 3:Step 4:Step 5:Step 6:Step 7:

Q: I need answer typing clear urjent no chatgpt used i will give upvotes

A: Add all 15 value and get the ans or Use GP series method

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