Steve Elroy needs an installment loan of $1,900. He must pay the loan at $169.00 a month for 12 months. What is the APR?

Marketing
20th Edition
ISBN:9780357033791
Author:Pride, William M
Publisher:Pride, William M
Chapter19: Pricing Concepts
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Steve Elroy needs an installment loan of $1,900. He must pay the loan at $169.00 a month for 12 months. What is the APR?
9. Steve Elroy needs an installment loan of
$1,900. He must repay the loan at $169.00
a month for 12 months. What is the APR?
Transcribed Image Text:9. Steve Elroy needs an installment loan of $1,900. He must repay the loan at $169.00 a month for 12 months. What is the APR?
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