Sam's Stereo is offering a Hi-Fi system for $2,700. The credit terms are 60 months at $73.00...

Sam's Stereo is offering a Hi-Fi system for $2,700. The credit terms are 60 months at $73.00 per month. What is the interest rate on this offer?

A) 20.97 percent

B) 20.05 percent

C) 21.75 percent

D) 19.26 percent

E) 1.75 percent

Expert Solution

jeff jeffy answered 3 years ago

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