Find I. Choose the right answer. Amount Financed (m) = $1,100 Number of Payments per year (y) = 12 Number of Payments (n) = 18 T
otal Interest (c) = $88.18
A. 10.6%
B. 10.1%
C. 10.3%
2 answers:
Answer:
10.1
Step-by-step explanation:
B. 10.1%
(2)(12)($88.18) ÷ [($1100)(18+1)]
(2,116.32) ÷ (20,900)
= 0.1012
= 10.1%
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