Use an Annual Percentage Rate Table to Solve the Problem

question 170

Multiple Choice

Use an annual percentage rate table to solve the problem.
-The owner of an automobile repair center purchased new electronic diagnostic equipment for $12,000. He paid 15% down and then paid 60 monthly payments of $192.49. Determine the APR of The loan to the nearest one-half of a percent.

• A) 7.5%
• B) 9.0%
• C) 5.5%
• D) 5.0%

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Definitions:

Dividend Clienteles

Groups of investors who prefer stocks of companies with a specific dividend policy that matches their income needs and tax situations.

Cyclical Dividend Policy

A dividend policy where the dividend payout is linked to the company's earnings or economic cycles.

Special Dividend Payments

One-time payments made by a company to shareholders, often signaling strong financial health or the distribution of extraordinary profits.