You wish to buy a fancy mountain bike you can either pay
You wish to buy a fancy mountain bike. You can either pay $800 cash now, or you can make end-of month payments of $100, 95, 90, 85, . . . , 45 over the next 12 months. What is the effective annual rate for this payment plan?
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you wish to buy a fancy mountain bike you can either pay 800 cash now or you can make end-of month payments of 100 95
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