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    Simple Interest for a Plasma TV

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    To buy a new plasma TV that costs $3,000, you pay $600 down and finance the remaining $2,400 for 12 months. Find the interest rate the store charges you if your monthly payment is $207.86?

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    https://brainmass.com/business/finance/simple-interest-plasma-tv-16695

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    Solution: Amount charged per month = $207.86.
    Principal for ...

    $2.49

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