FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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mountain bike can be purchased for $1000 cash. It may also be purchased for 12 monthly payments of $100.00.

 

a. calculate the dollar cost of credit

 

b. use the formula I= 2yc/p(n+1) x 100% to calculate the annual percentage of interest

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