A store is offering a ring for sale for 12 months at $360 per month. The...

A store is offering a ring for sale for 12 months at $360 per month. The retail price of the ring is $3,900. What is the interest rate on this offer?

a. 13.50%

b. 15.25%

c. 16.76%

d. 19.32%

Expert Solution

jeff jeffy answered 3 years ago

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