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Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
Edition 7ISBN: 978-1285448596 Exercise 40
Chris Manning purchased a $7,590 motorcycle with a 36-month installment loan. The monthly payments are $261.44 per month.
a. Use the APR formula to calculate the annual percentage rate of the loan. Round to the nearest hundredth of a percent.
b. Use the APR tables to verify your answer from part a.
a. Use the APR formula to calculate the annual percentage rate of the loan. Round to the nearest hundredth of a percent.
b. Use the APR tables to verify your answer from part a.
Explanation
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The given data is the amount financed is...
Contemporary Mathematics for Business and Consumers 7th Edition by Robert Brechner ,George Bergeman
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