The local computer store has the following ad placed at their doorstep: We do not ensnare our customers into confusing interest rates. We just divide your total cost into 13 and you pay that amount each month for the next 15 months the first payment is due a month from the date of purchase Find the (rather outrageous) effective annual rate that the store's customers are paying when financing their purchase by using the store policy. Hint "T50.0185= 12.995 and "T50.0184= 13.004
The local computer store has the following ad placed at their doorstep: We do not ensnare our customers into confusing interest rates. We just divide your total cost into 13 and you pay that amount each month for the next 15 months the first payment is due a month from the date of purchase Find the (rather outrageous) effective annual rate that the store's customers are paying when financing their purchase by using the store policy. Hint "T50.0185= 12.995 and "T50.0184= 13.004
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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