Implied annual interest rate of the lease
Problem:
You decide to use a lease to own service for a dishwasher for $29.99 per month for 24 months. The dishwasher currently sales for $499. What is the implied annual interest rate of the lease to own offer?
Now Priced at $20 (50% Discount)
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The dishwasher currently sales for $499. What is the implied annual interest rate of the lease to own offer?
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