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1) Recently, you needed money and agreed to sell a car you had inherited at a price of $55,000, to be paid in monthly payments

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1) Recently, you needed money and agreed to sell a car you had inherited at a price of $55,000, to be paid in monthly payments of $800 for 60 months. What interest rate did you charge for financing the sale? (A)) 7.78% B) 6.84% C) 5.38% D) 8.33% E) 6.50%

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