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Home Q & A Board Science-Related Homework Help Mathematics
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NinjaRick NinjaRick
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10 months ago
A stereo priced at $1057.53 was paid for by 12 monthly payments of $100 with the first payment made one month after the date of purchase. What monthly compounded nominal interest rate was charged?

▸ 2.00%

▸ 2.33%

▸ 27.97%

▸ 24.00%

▸ 24.96%
Textbook 
Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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webmom2008webmom2008
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Anonymous
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#2
4 months ago
Help! The answer is missing an explanation...
Anonymous
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#3
4 months ago
Added my answer 👍👍
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