At what effective interest rate are these terms equivalent

Reference no: EM13269828

The price of a machine is $3,500, the dealer will accept a $1,200 down payment and 24 end-of-month monthly payments of $110 each. At what effective interest rate are these terms equivalent?

Reference no: EM13269828

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At what effective interest rate are these terms equivalent : The price of a machine is $3,500, the dealer will accept a $1,200 down payment and 24 end-of-month monthly payments of $110 each. At what effective interest rate are these terms equivalent?

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