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20 Chapter MC, fectie 04. Problem 165 Alg The store where you bought new home furnishings offers you two alterative payment plans. The first

20 Chapter MC, fectie 04. Problem 165 Alg The store where you bought new home furnishings offers you two alterative payment plans. The first plan requires a $4,500 immediate up-front payment. The second plan requires you to make monthly payments of $137.41, payable at the end of each month for 3 years. What nominal annual interest rate is built into the monthly payment plan? Select the correct answer Ca. 6.65% Ob. 5.85% Oc. 5.45% Od. 7.05% Oe. 6.25%

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