Multiple Choice
You are considering buying a new big screen TV from the BIG Electronics Co.BIG has offered to finance your purchase by extending credit to you.The terms of the credit are 12 easy monthly payments of $95.If you choose to finance this purchase,rather than pay the cash price of $850,what would your annual interest on this loan be?
A) 20.63%
B) 34.12%
C) 57.99%
D) 74.56%
Correct Answer:
Verified
Correct Answer:
Verified
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