0
Henry Devine bought a new dishwasher for 320 He paid 20 down and made 10 monthly payments of 34 What actual yearly interest rate did Henry pay?
Wiki User
∙ 13y ago
29.09%
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Henry Devine bought a new dishwasher for 320. He paid 20 down and made 10 monthly payments of 34. What actual yearly interest rate did Henry pay?
Henry paid an annual percentage rate of approximately 28%. Working through the math, the dishwasher was $320 if bought outright. Henry paid $20 down at the time so he was financing $300 ($320 - $20) and made $340 (10 * $34) in payments over 10 months. To determine the rate, we use the formula for computing an annuity: PRINCIPAL = (PMT / PERIODICRATE) * (1 - (1 / ((1 + PERIODICRATE) ^ Periods))) Where: PRINCIPAL = amount borrowed = $300 PMT = periodic payment = $34 PERIODS = number of payments = 10 PERIODICRATE= the APR we are looking for divided by 12 Solving for PeriodicRate we get about 2.34%. Multiply by 12 and we get 28.09%. Using Microsoft Excel, we could use the "rate()" formula as follows: =rate(10,-34,300) = 2.34% * 12 = 28.09%
What is the meaning of name Tejashree?
It means With devine power and grace in Indian
How many hours in 180 mins?
Three hours.
What does Fomorii mean?
the etymology of the word is lost, but there are suggestions part of the word may come from muire, which is sea in old irish. The formorians were a mythical race of semi devine sea pirates from Tory Island as counted in Leabhar Gábhla éireann (book of invasions).
What is the meaning of the name Arun?
the boy's name arun is of Hindi and Cambodian origin and the meaning of arun is "dawn; sun". in Hindi, the name represents dawn colors as well as the rich hues of gold and rubies. ruchita
Henry devine bought a new dishwasher for 320.00 he paid 20 down and made 10 monthly payments of 34what actual yearly interest rate did Henry pay?
Henry Devine bought a new dishwasher for $ 320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry pay?
Henry Devine bought a new dishwasher for 320 He paid20 down and made 10 monthly payments of 34 What actual yearly interest rate did Henry pay?
$29.09
Henry Devin bought a new dishwasher for 320. He paid Y down and made Y monthly payments of 34. What actual yearly interest rate did Henry paid?
Henry Devine bought a new dishwasher for $320. He paid $20 down and made 10 monthly payments of $34. What actual yearly interest rate did Henry paid?
Henry devine bought a new dishwasher for 320?
38.34
Henry Devine bought a new dishwasher for 320. He paid 20 down and made 10 monthly payments of 34. What actual yearly interest rate did Henry pay?
Henry paid an annual percentage rate of approximately 28%. Working through the math, the dishwasher was $320 if bought outright. Henry paid $20 down at the time so he was financing $300 ($320 - $20) and made $340 (10 * $34) in payments over 10 months. To determine the rate, we use the formula for computing an annuity: PRINCIPAL = (PMT / PERIODICRATE) * (1 - (1 / ((1 + PERIODICRATE) ^ Periods))) Where: PRINCIPAL = amount borrowed = $300 PMT = periodic payment = $34 PERIODS = number of payments = 10 PERIODICRATE= the APR we are looking for divided by 12 Solving for PeriodicRate we get about 2.34%. Multiply by 12 and we get 28.09%. Using Microsoft Excel, we could use the "rate()" formula as follows: =rate(10,-34,300) = 2.34% * 12 = 28.09%
Who is caribe devine?
Mr. Devine.
What is the birth name of Ott Devine?
Ott Devine's birth name is Ottis Devine.
What is the birth name of Kathleen Devine?
Kathleen Devine's birth name is Kathleen Ann Devine.
What is the birth name of Adam DeVine?
Adam DeVine's birth name is Adam Patrick DeVine.
What is the birth name of Bing Devine?
Bing Devine's birth name is Vaughan Pallmore Devine.
What is the birth name of Denny Devine?
Denny Devine's birth name is Dennis Patrick Devine.
What is the birth name of Kristen Devine?
Kristen Devine's birth name is Kristen Noelle Devine.
