On february 1 2013 mr smith purchased 1000 worth of


On February 1, 2013, Mr. Smith purchased $1,000 worth of furniture from a furniture store. The purchase was financed by a consumer loan which required Mr. Smith to pay a monthly payment of $37.78 at the end of each month for three years. What was the annual percentage rate (APR) of the consumer loan?

Request for Solution File

Ask an Expert for Answer!!
Financial Management: On february 1 2013 mr smith purchased 1000 worth of
Reference No:- TGS01127680

Expected delivery within 24 Hours