What is nominal annual interest rate that they pay

Reference no: EM13687273

At the central furniture company, consumers who buy on credit pay an effective annual interest rate of 16.1 percent, based on monthly compounding. What is nominal annual interest rate that they pay?

Reference no: EM13687273

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What is nominal annual interest rate that they pay : At the central furniture company, consumers who buy on credit pay an effective annual interest rate of 16.1 percent, based on monthly compounding. What is nominal annual interest rate that they pay?

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