Explore BrainMass

Implied annual interest

This content was STOLEN from BrainMass.com - View the original, and get the solution, here!

You decide to use a lease to own service for a dishwasher for $29.99 per month for 24 months. The dishwasher currently sales for $499. What is the implied annual interest rate of the lease to own offer?

© BrainMass Inc. brainmass.com September 25, 2018, 3:11 pm ad1c9bdddf - https://brainmass.com/business/leasing/implied-annual-interest-286577

Solution Summary

The solution explains how to calculate the implied annual interest