Financing a Ski Outfit Lucille Groenke can buy a

Chapter 11, Problem 859

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Financing a Ski Outfit Lucille Groenke can buy a crosscountry skiing outfit for $275. The store is offering the following terms: $50 down and 12 monthly payments of $19.62. a) Determine the interest Lucille would pay. b) Determine the APR.

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