Question

XYZ wants to but exercisr equiptmrnt that is available at two stores. the price of the exercise equiptment is the same at both stores. PQR health housr would let her make quartrrly payments of $4,780 fot 6 years at a quarterly interedt rate of 2.67 percent. her first payment woulf be due immedietly. if ABC bronx would let her make equal monhtly payments of $2190 for 5 years and it her first payment to ABC would be in one month, then what id the monhtly interest rate that XYZ would br charged by ABC bronx?

A 1.59%

B 1.39%

C 1.50%

d 1.61%

e. none are within .01 percentage points

Answer 1

monthly interest rate that XYZ would be charged by ABC = 1.50% Option C