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QUESTION
(Rate of return of an annuity) Paul's Perfect Peugeot says they'll sell you a brand new Italian"Iron Man" motor scooter for $1,699.
(Rate of return of an annuity) Paul's Perfect Peugeot says they'll sell you a brand new Italian“Iron Man” motor scooter for $1,699. Financing is available, and the terms are 10% down and payments of $46.57 a month for 40 months. What annual interest rate is Paul charging you?
