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Business, 27.03.2020 04:52 darkshaders11

3. You want to buy a new refrigerator with a price tag of $3,000 and the seller has two special offers for you. Offer 1 (zero-interest financing): You make a down payment of $300 now and 36 consecutive monthly installments of $75 (the first payment is due in one month). Offer 2 (immediate cash back): You make a full payment now and get an immediate $400 cash back. The two offers cannot be combined with each other. What is the effective monthly interest rate (EMR) implied in these two offers

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