You want to buy a new cell phone verizon wireless will sell, Financial Management

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You want to buy a new cell phone verizon wireless will sell

You want to buy a new cell phone. Verizon Wireless will sell you a new cell phone for cash or Verizon will allow you to finance the phone over 2 years.

If you buy the phone for cash, you will pay $699 dollars today. If you finance the phone, you must pay $299 today and then $20 per month for the next 24 months.

What interest rate is Verizon Wireless offering on the financing it is providing you?

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Financial Management: You want to buy a new cell phone verizon wireless will sell

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Financial Management: You want to buy a new cell phone verizon wireless will sell

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