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Amount Financed (m) = $1,860 Number of Payments per year (y) = 12 Number of Payments (n) = 36 Total Interest (c) = $350.00
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Nov 3, 2018
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Amount Financed (m) = $1,860 Number of Payments per year (y) = 12 Number of Payments (n) = 36 Total Interest (c) = $350.00
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Answer:
I=12.21%
Explanation:
Patrick Harrington
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Nov 6, 2018
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Patrick Harrington
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Hi there
The formula to find I (ARP)
I=(2yc)/(m×(1+n)
I=(2×12×350)÷(1,860×(1+36))
I=0.1221×100
I=12.21%
Good luck!
Webblover
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Nov 10, 2018
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