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Using the examples above, answer the following questions. Bob Borrower purchased a television for $299.95. He paid 25% down and agreed to pay $21.59 for 12 months.

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Answer:

299.95×0.25=74.99

299.95−74.99=224.96

21.59×12=259.08

100*(259.08 - 224.96)/224.96 = 15.2%

Explanation:

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