Really need help with this. Percentage Round to: 3 decimal places (Example: 9.243%, % sign required....
Really need help with this. Percentage Round to: 3 decimal places (Example: 9.243%, % sign required. Will accept decimal format rounded to 5 decimal places (ex: 0.09243))
"Derek decides to buy a new car. The dealership offers him a choice of paying $522.00 per month for 5 years (with the first payment due next month) or paying some $28,338.00 today. He can borrow money from his bank to buy the car. What interest rate makes him indifferent between the two options?"
Homework Answers
Calculating Interest Rate,
Using TVM Calculation,
I = [ PV = 28,338, FV= 0, N = 60, PMT = -522]
I = 4.01%
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Really need help with this. Percentage Round to: 3 decimal
places (Example: 9.243%, % sign required....
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