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Find I. Choose the right answer. Amount Financed (m) = $1,100 Number of Payments per year (y) = 12 Number of Payments (n) = 18 Total Interest (c) = $88.18 A. 10.6% B. 10.1% C. 10.3%
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Find I. Choose the right answer. Amount Financed (m) = $1,100 Number of Payments per year (y) = 12 Number of Payments (n) = 18 Total Interest (c) = $88.18

A. 10.6%
B. 10.1%
C. 10.3%

User Hebert
by
8.2k points

2 Answers

2 votes

Answer:

10.1

Explanation:


User Chris Shaw
by
7.7k points
3 votes
B. 10.1%

(2)(12)($88.18) ÷ [($1100)(18+1)]
(2,116.32) ÷ (20,900)
= 0.1012
= 10.1%
User Karthikeyan Sukkoor
by
8.0k points
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