Paco buys a bicycle that costs $4,700. Give a 30% down payment and pay with a payment of $3,627.23 ninety days later. What simple annual interest rate did you pay? Perform your calculations with the ordinary method

Paco buys a bicycle that costs $4,700. Give a 30% down payment and pay with a payment of $3,627.23 ninety days later. What simple annual interest rate did you pay? Perform your calculations with the ordinary method

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

ChapterM: Time Value Of Money Module

Section: Chapter Questions

Problem 11RE: Samuel Ames owes 20,000 to a friend. He wants to know how much he would have to pay if he paid the...

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Paco buys a bicycle that costs $4,700. Give a
30% down payment and pay with a payment
of $3,627.23 ninety days later. What simple
annual interest rate did you pay? Perform your
calculations with the ordinary method

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