Find the APR for a purchase of a refrigerator for $1500 at 14% add on interest for three years
Added by Maria M.
Step 1
The add-on interest is calculated by adding the interest to the principal amount. In this case, the principal amount is $1500 and the interest rate is 14%. Interest = Principal amount x Interest rate Interest = $1500 x 0.14 Interest = $210 Total amount paid = Show more…
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