Hi folks,
I'm posting this to know a better and shorter way to calculate this kind of problems. I think the way, I tried, I did get right OA but method was too lengthy to do on a test. just want to know if some qauant genius on forum can show a better way to do this problem. Thanks
A car is available at $6400 or for $1400 cash down payment and five monthly instalments of $1030 each. Calculate the rate of interes charged under the instalment plan.
I'm posting this to know a better and shorter way to calculate this kind of problems. I think the way, I tried, I did get right OA but method was too lengthy to do on a test. just want to know if some qauant genius on forum can show a better way to do this problem. Thanks
A car is available at $6400 or for $1400 cash down payment and five monthly instalments of $1030 each. Calculate the rate of interes charged under the instalment plan.
