General information

Question text: Suppose Andy purchases an appliance that retails for $1,000 with equal monthly payments of $100 per month for 12 months. The total payments Andy made by the year’s end total $1,200. What is the interest rate that Andy paid for this purchase?
Answer type: Radio buttons
Answer options: 1 More than 10% but less than 20%
2 More than 20%
3 Not enough information to calculate the interest rate on his purchase
98 Don’t know
Label: interest rate on an appliance purchase
Empty allowed: One-time warning
Error allowed: Not allowed
Multiple instances: No

Data information

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