Question

Henry Devine bought a new dishwasher for $320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry pay?

A) 29.09.
B) 68.75.
C) 34.38.
D) 14.55.

Answer 1

The problem ask to find the actual yearly interest rate of Henry pays if he bought a new dishwasher for $320 and paid $20 down and made $34 for 10 months so the interest rate would be letter C. 34.38. I hope you are satisfied with my answer and feel free to ask for more