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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 50
Solve the following application problem. Use formula to estimate the APR, and round rates to the nearest tenth of a percent.
ELECTRIC GUITAR Yanni Benjamin purchased a good-quality electric guitar with amplifier and financed $3600 over 12 months. The finance charge was $260. (a) Estimate the APR,___________ then (b) find the exact APR using the table.___________
ELECTRIC GUITAR Yanni Benjamin purchased a good-quality electric guitar with amplifier and financed $3600 over 12 months. The finance charge was $260. (a) Estimate the APR,___________ then (b) find the exact APR using the table.___________
Explanation
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Verified
We need to find APR.
The following inf...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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