Nonannual compounding using a calculator Bowflexs television

?(Nonannual compounding using a calculator?) ?Bowflex\'s television ads say you can get a fitness machine that sells for $ 999 for $ 33.00 a month for 36 months. What APR are you paying on this Bowflex? loan?

First set the calculator to monthly compounding by pressing 2nd I/Y 12

Keys to use in a financial calculator

CPT I/Y 12, PV = -999, PMT = 33, N = 36, CPT I/Y

APR should be 11.62%

$?(Nonannual compounding using a calculator?) ?Bowflex\'s television ads say you can get a fitness machine that sells for $ 999 for $ 33.00 a month for 36 months$

Nonannual compounding using a calculator Bowflexs television

Solution

Get Help Now

Submit a Take Down Notice