Eden finances a purchase of $611.03 by making monthly payments
of $26.17 for 2.5 years. what annual interest rate, compounded
monthly, is she being charged?

Annual rate of interest will be 132.876 %

Step-by-step explanation:

We have given amount which he has to pay A = $611.03

He does a monthly payment of $26.17

So principle amount P = $26.17

Time = 2.5 years

As payment is done monthly so time period = 12×2.5 = 30 periods

Future amount is given by

%

So annual rate will be 11.07×12 = 132.876%

Annual rate of interest will be 132.876 %

if im undersanding the question correctly, its organized from 10

step-by-step explanation: