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Implied annual interest

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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?

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The solution explains how to calculate the implied annual interest

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Implied annual interest rate

Suppose the current Treasury bond futures contract has a quoted price of 89-09. The terms of the contract are standard (20 years, 6% coupon paid semiannually). The implied annual interest rate on the contract is

a. about 6 percent.
b. about 12 percent.
c. about 7.0 percent.
d. about 14 percent.
e. In fact, none of the answers is correct

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