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Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
Edition 12ISBN: 978-0132605540 Exercise 138
Solve the following application problem using 360-day years where applicable.
James Thompson purchased a large riding lawnmower costing $2800 with $500 down and payments of $108.27 per month for 24 months. Find (a) the total installment cost, __________ (b) the finance charge, __________ and (c) the amount financed. __________ (d) Then use the table to find the annual percentage rate to the nearest quarter of a percent. __________
James Thompson purchased a large riding lawnmower costing $2800 with $500 down and payments of $108.27 per month for 24 months. Find (a) the total installment cost, __________ (b) the finance charge, __________ and (c) the amount financed. __________ (d) Then use the table to find the annual percentage rate to the nearest quarter of a percent. __________
Explanation
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Recall the formula, finding the Total I...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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