Skip towne goes into frankrsquos friendly furniture sales, Financial Management

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Skip towne goes into frankrsquos friendly furniture sales

Skip Towne goes into Frank’s Friendly Furniture Sales and purchases a living room set and bedroom suite for $1,950 total. Skip has to make payments of $100 per month for 36 months. What EAR is Skip paying to buy his furniture? a. 36.79% b. 45.35% c. 56.07% d. 68.21% e. None of the above

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Financial Management: Skip towne goes into frankrsquos friendly furniture sales

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