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Question 4 A certain appliance depot sells a new smart phone for 18,000 php. It offers the buyer payments of 405 php per month for 5 years. Assuming that the interest is compounded monthly, what interest rate is this depot charging? 12.5% 5.25% C 7.5% 10.75%

Question 4 A certain appliance depot sells a new smart phone for 18,000 php. It offers the buyer payments of 405 php per month for 5 years. Assuming that the interest is compounded monthly, what interest rate is this depot charging? 12.5% 5.25% C 7.5% 10.75%

College Algebra
College Algebra
1st Edition
ISBN:9781938168383
Author:Jay Abramson
Publisher:Jay Abramson
Chapter9: Sequences, Probability And Counting Theory
Section9.4: Series And Their Notations
Problem 56SE: To get the best loan rates available, the Riches want to save enough money to place 20% down on a...
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4.5% Question 4 A certain appliance depot sells a new smart phone for 18,000 php. It offers the buyer payments of 405 php per month for 5 years. Assuming that the interest is compounded monthly, what interest rate is this depot charging? 12.5% 5.25% (c) 7.5% 10.75% Question 5
Transcribed Image Text:4.5% Question 4 A certain appliance depot sells a new smart phone for 18,000 php. It offers the buyer payments of 405 php per month for 5 years. Assuming that the interest is compounded monthly, what interest rate is this depot charging? 12.5% 5.25% (c) 7.5% 10.75% Question 5
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