Ask Question
20 January, 00:05

Mr. Strauss bought a shipment of goods for $9000. He paid $3000 in cash and agreed to pay the balace in 2 years. In these 2 years, Mr. Strauss paymrnt is $400 per month. What is the annual rate in this case

+3
Answers (1)
  1. 20 January, 00:30
    0
    Annual means 1 year

    1 year = 12 months

    400 multiplied by 12 = 4,800

    Annual rate=4800

    He would pay 4800 each of year.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Mr. Strauss bought a shipment of goods for $9000. He paid $3000 in cash and agreed to pay the balace in 2 years. In these 2 years, Mr. ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers