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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 142
Solve the following application problems and use the table to find the annual percentage rate.
GOAT CHEESE Toni Smith wants to produce goat cheese and needs $120,000 to purchase 400 goats. He pays $30,000 down and finances the balance with 24 monthly payments of $4253.44. Find (a) the total installment cost _________ and (b) the annual percentage rate. _________
GOAT CHEESE Toni Smith wants to produce goat cheese and needs $120,000 to purchase 400 goats. He pays $30,000 down and finances the balance with 24 monthly payments of $4253.44. 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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