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1 point You want to borrow $78,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,350,

1 point You want to borrow $78,000 from your local bank to buy a new sailboat. You can afford to make monthly payments of $1,350, but no more. Assuming monthly compounding, what is the highest rate per year you can afford on a 78 -month loan? 16.05% 10.12% 9.65% 16.71% 10.61%

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