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Problem

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question

A $98 movie camera can be purchased on the installment plan for 10% down, with the balance over 24 weekly payments of $4 each. What is the annual interest rate?
Plain-text mathematical notation (without MathML)
A $98 movie camera can be purchased on the installment plan for 10% down, with the balance over 24 weekly payments of $4 each. What is the annual interest rate?
Original LaTeX notation
A $98 movie camera can be purchased on the installment plan for 10% down, with the balance over 24 weekly payments of $4 each. What is the annual interest rate?

category

business

options

  1. 50%
  2. 10%
  3. 29.9%
  4. 33.3%
  5. 36.8%
  6. 48%
  7. 55%
  8. 42%
  9. 15%
  10. 24%

src

stemez-Business

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Source and history

Official source

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