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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 131
Solve the following application problems and use the table to find the annual percentage rate.
PECAN TREES Josefina Torres and her husband need $85,000 to plant pecan trees on their small farm. They pay $20,000 down and finance the balance with 40 payments of $1942.24. Find (a) the total installment cost _________ and (b) the annual percentage rate. _________
PECAN TREES Josefina Torres and her husband need $85,000 to plant pecan trees on their small farm. They pay $20,000 down and finance the balance with 40 payments of $1942.24. Find (a) the total installment cost _________ and (b) the annual percentage rate. _________
Explanation
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Recall the formula for finding the Tota...
Business Mathematics Brief 12th Edition by Stanley Salzman ,Gary Clendenen, Charles Miller
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