An outright purchase of 20000 now a lump sum payment can
An outright purchase of $20,000 now ( a lump sum payment) can be traded for 24 equal payments of $941.47 per month, starting one month from now. What is the monthly interest rate that establishes equivalence between these two payment plans?
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an outright purchase of 20000 now a lump sum payment can be traded for 24 equal payments of 94147 per month starting
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